UK bakery Cornish Bakery has secured a funding package from Virgin Money to support its expansion plans, as the company aims to double its number of locations this year.

Founded in 1987 by Steve Grocutt, Cornish Bakery currently has over 60 locations across the UK and employs more than 630 staff. The company is known for its handmade Cornish pasties, ethically sourced coffee from Union Coffee, and pastries.

The funding will support Cornish Bakery's expansion into new areas, creating jobs and boosting local economies and charities across its UK locations. Cornish Bakery plans to open locations in the East Midlands, the South West and Nottinghamshire while also refurbishing stores in St Ives and the Lake District.

Ralf Goad, finance director of Cornish Bakery, said: “We’re on a shared mission to supercharge our growth and to at least double, if not triple, in size in the coming years. We’re building a pioneering brand proposition where our mantra is ‘bakery is the new coffee shop’. We fully appreciate our close working relationship with the Strategic Finance team at Virgin Money and are delighted to work together to continually achieve, and often overachieve, our ambitious objectives.”

David Burgess, business development director at Virgin Money, added: “Cornish Bakery is an established and growing business with a great reputation for quality produce and service which is backed up by their customer reviews. We are delighted to continue our 15 year relationship with the business and to support the whole team at Cornish Bakery with a cashflow finance package that enables them to accelerate their growth plans.”

The funding amount was not disclosed.

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