A BURNLEY based business is planning a massive expansion after being bought out in a £68.5m deal.

Hundreds of jobs could be created after private equity firm Duke Street Capital acquired The Original Factory shop, which has its headquarters in the Orient Business Park, Billington Road.

The new owners will support current expansion plans to open 15 stores per year, which would provide employment for around 180 people.

The company, which employs 1,200 people in 84 outlets, including one in Clitheroe, sells discounted merchandise including branded products such as clothing for men, women and children, electrical items and housewares.

Following a successful year of trading in difficult conditions the stores, which are normally located in small towns, will continue expanding.

Oliver Mayer, investment director for Duke Street Capital, said: "The company is in a growth mode and the plan is to carry on with the expansion "The value retails sector has grown substantially over the last few years. The shops offer quality products at bargain prices.

"The shops are located in smaller towns and offer local and convenient shopping."

The Original Factory Shop, was established in 1969 and originally part of Peter Black's prior to a previous management buy out in 2004.

Following the acquisition, DSC will actively support the management team as it continues to accelerate its store roll-out programme across the United Kingdom.

Colin Leggatt, marketing director of the Original Factory Shop, said: "We are pleased at the news and looking forward to the next stage of the company's development.

"Duke Street Capital will be able to support us through this stage.

"We have done very well in these difficult times. We offer big stores prices but in local communties."