Mr Harrison said Furniture Village was “appreciative of BGF’s support”. He added: “Having achieved a significant improvement in trading performance in our last financial year ending March 2014, which has continued strongly into this current year, this is an ideal time for us to expand and further enhance our presence, both in terms of physical stores and online.”
The BGF will take a seat on the board of Furniture Village through Jon Simon, its senior investment manager. The size of its stake has not been disclosed, but the BGF typically takes holdings of between 10pc and 40pc.
The fund was launched in 2011 with Government backing. It received capital from the UK’s biggest five banks, Barclays, HSBC, Lloyds, Royal Bank of Scotland, and Standard Chartered.
Mr Simon said: “This represents an exciting opportunity for BGF to back a well known British brand with a strong heritage and a track record of profitability.
“We are supporting a clear growth strategy based on selective store roll-out and investment in new software.
“This, in turn, will improve the operational efficiencies of the business and increase the focus on e-commerce.”
He added: “Furniture Village has developed into one of the UK’s leading furniture retailers and we look forward to supporting the management team as the company embarks on this next phase of growth.”
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