£20m funding deal spurs tanning chains expansion
A tanning studio chain in the UK is set to expand with the opening of nine new stores, generating up to 100 new job opportunities.
The Feel Good Group, currently operating 110 stores across England and Ireland, has secured a £20m funding facility from HSBC and plans to utilise the funding to acquire nine additional stores in the West Midlands.
The company also intends to improve its product lineup by investing in wellness offerings like pure red light therapy and cryotherapy.
Adam Mooney, founder and chairman at Feel Good Group, said: “This is a very exciting time for the company. As we make significant steps to grow and revitalise the company with new products and stores we also anticipate hiring around 100 new members of staff bringing our total to 700. We have now been supported by HSBC for over 17 years, their knowledge and experience of Feel Good Group gives them a unique and dependable insight into our company.”
Andrew Cox, relationship director at HSBC UK, said: ”We have a long standing relationship with The Feel Good Group and so it has been great to support them as they make significant and innovative enhancements to the business. It is great news for the West Midlands economy and for the customers across the country which will benefit from new products.”
