The UK streetwear and sportswear retailer is backing physical store growth with a substantially enlarged revolving credit facility, as peers continue to debate the long-term viability of high-street investment in a subdued consumer environment.
Footasylum has increased its revolving credit facility with HSBC UK to £60 million (about €71 million), up from £35 million (about €41 million), as the UK sportswear and streetwear retailer steps up investment in bricks-and-mortar growth.
The expanded facility will fund new stores in Leeds, Glasgow and Merthyr Tydfil. The first opening is due this month, with additional launches planned for April and May. Footasylum said the openings and planned store expansions are expected to create more than 80 jobs.
Manchester stores set for major expansions
The largest changes are planned in Manchester. The Arndale store is set to grow by about 80 percent to 17,758 square feet, while the Trafford Centre unit is expected to roughly double to 17,178 square feet – two larger-format sites in high-traffic retail destinations in the northwest.
Footasylum will also use the funding to upgrade its 280,000 square feet warehouse in Middleton, Greater Manchester, targeting efficiency gains to support demand across stores and e-commerce.
Borrowing cost tied to annual environmental, social and governance performance
The revolving credit facility includes a sustainability improvement loan structure, which links Footasylum’s cost of borrowing directly to its environmental, social and governance performance. The retailer will be rated annually by EcoVadis, the supply chain sustainability assessment platform; if Footasylum improves against pre-agreed targets, it will benefit from a lower interest rate on the facility.
Continued bet on physical retail
The announcement positions Footasylum among a relatively small group of UK sportswear and streetwear retailers making a deliberate commitment to high-street store investment at a moment of continued consumer caution. Zubayr Atcha, Senior Global Relationship Director at HSBC UK, framed the significance of that positioning: Footasylum “remains fully committed to investing in the high street despite a challenging consumer environment.”
Nick Scott, Chief Financial Officer at Footasylum, described the facility as “a significant milestone in our growth journey,” adding that the programme is intended to improve customer service capability and extend the retailer’s reach across multiple sales channels.
Nine UK stores in 2025, plus a Gulf franchise deal
The credit uplift follows a period of consistent physical expansion. Footasylum opened nine stores across the UK during 2025, adding 125 jobs in the process. In December of that year, the company confirmed plans to open 40 franchise locations across the Gulf region through a commercial partnership with Apparel Group, adding an international dimension to a strategy that has until now been concentrated in the UK domestic market.
About Footasylum
Founded in 2005 and headquartered in Rochdale, Greater Manchester, Footasylum operates 65 stores across the UK, carrying a curated range of sportswear and streetwear apparel and accessories from third-party brands including Nike, adidas, The North Face and New Balance. The retailer also markets several exclusive own labels – Zavetti Canada, Alessandro Zavetti and Monterrain – alongside its third-party offer.
