A BURNLEY-based discount chain has been taken over in a deal worth almost £70million.

Original Factory Shop has been taken over by Duke Street Capital (DSC) for £68.5 million.

The company has 84 outlets across the UK selling a wide range of discounted merchandise including branded products such as ladieswear, menswear, childrenswear, sportswear, footwear, electricals, housewares, toys and gifts, beauty and fragrance.

The Original Factory Shop was established in 1969 and its outlets are predominantly located in small towns, such as Clitheroe, Great Harwood and Todmorden.

George Foster, Factory Shop's chief executive said: "The Original Factory Shop has already carved out a real niche for itself in the value retail market.

"We are looking forward to working with Duke Street and are sure that our combined experience puts us in a great position to deliver on our growth plans.

"We are looking forward to increasing the number of our stores throughout the country and continuing to build on our previous success."

Tim Lebus, partner at DSC, said: "We are delighted with the acquisition of The Original Factory Shop.

"George Foster and his team have developed the business into one of the country's most innovative value retailers.

"The long-term prospects for the value-retail sector are excellent and we are very excited at the opportunity of working with George and his colleagues."