A retail chain which started life in Skipton could part with nearly half its shares to fund a major expansion plan.

Ponden Mill, which last month moved from Silsden to Keighley, wants to double the number of its stores.

Currently the company, which sells curtains and bedding, has 121 stores across the UK.

Bosses at Ponden Mill are aiming to increase this ahead of a possible sell-off in a few years.

It is currently in talks with two private equity firms about selling 40 per cent of the business.

The firm's plans were delayed after its finance director Donald Haymes left last year to join antique furniture specialists Tomlinsons.

John Taylor, the company's managing director, said: "The plan is to get venture capitalists in, build the business and take a view in three to five years' time.

"No one really knows where the market will be by then.

"We're building the business up in a secure way that allows us options.

"That might be a flotation, it could be a secondary buy-out, which is becoming more and more common, or it could be a merger.

"We're trying to build the business so all these options are available."