A Costa Coffee franchise based in the North of England has announced plans to expand after securing a substantial financing facility from HSBC.

The funding package is understood to be over £1m, and will be used to refit all 39 of the franchise-operated stores to meet covid-secure measures and serve as a safety net to support its growth plans.

The Altrincham-based franchise, Sim Trava, was established in 2005 and currently employs 334 staff across Greater Manchester and Cheshire.

“After a difficult period of trading for the business through the Covid-19 crisis, we have now recovered enough to be in a strong position to continue with our plans to expand next year,” said Simon Vardy, manging director of Sim Trava.

“The funding from HSBC UK has been crucial in making our stores as safe as possible throughout these difficult times.”

“It has been a testing number of months for the food and drink industry,” added Zubayr Atcha, corporate relationship director at HSBC UK. “However, Sim Trava is a great example of a business that has successfully navigated the Covid-19 crisis so far and we now look forward to seeing the company recover and continue to grow across the North of England with the backing from HSBC UK.”