Office sees significan growtth

British fashion footwear chain Office is receiving an £8 million investment from owner Sir Tom Hunter as it continues to expand. The chain has already opened 13 stores this year, and another six openings are in the pipeline over the next three months. £4 million of the investment, which comes from Hunter's West Coast Capital private equity vehicle, consists of basic store out-fitting. Including merchandise and marketing, the total adds up to £8 million. Meanwhile, first-half sales are up 33 percent and are expected to hit the £90 million mark by the end of the year.

West Coast Capital is a small firm but calls in co-investors when putting together a deal. "While the partners certainly get through the deals we would not conclude quite as my without the exceptional partners we have in the likes of HBOS, LXB, Prestbury, Baugur and the Reubens," a spokesman for Hunter told the Scotsman. "The future will see us continuing to lead some deals whilst co-investing with other partners in the lead." Press executives could not be reached for further comment.