Multichannel fashion footwear business Moda in Pelle has received a £3.5 million investment from the Business Growth Fund which it will use to roll out news stores and further develop its web and mobile sites. The business currently operates 60 outlets and is expected to achieve sales of £20 million in the current year. As part of the deal the Business Growth Fund has taken a minority stake in the business and one if its directors, Richard Taylor, will join the board which has already been strengthened by the appointments of David Inglis as chief executive and Judith Pilkington as non-executive chairman. Moda in Pelle was founded in the mid-1970s and its founder Stephen Buck and his wife Claire retain the majority shareholding.
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