OUTDOOR equipment firm Karrimor is set to name a new partner providing a major cash injection.

And the Clayton-le-Moors firm said the planned deal should help secure the firm's 300-strong workforce in the town and lead to expansion in the future.

The company said that it had reached an agreement with an unnamed European financial institution partner and hoped to be able to make a full announcement within two to three weeks.

"We have told our suppliers and customers the position but we have been asked not to name the other party involved." said financial director James Henry. "We needed some funds to expand.

"We have recently been through a period of reorganisation and the additional funding will help us take advantage of the market opportunities available."

Mr Henry said that the firm was "very buoyant" at the moment and that the new agreement would help secure the workforce.

Karrimor makes outdoor clothing, rucksacks and tents and now exports to more than 20 countries worldwide.

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