Panache Cruises secures £2.75m refinance deal with HSBC UK

Luxury cruise retailer Panache Cruises plans to expand internationally after agreeing a £2.75m refinance package with HSBC UK.

The fast-growing company intends to open up new offices in Canada and Australia in the first half of 2026 as well as strengthen its head office team in Chorley, Lancashire.

James Cole, founder and chief executive, said: “We’re absolutely delighted to have agreed the £2.75m refinance deal with HSBC UK.

“Although we’ve been approached by a lot of private equity houses, investors and banks over the last three years, we just clicked with HSBC UK right way.

“We were immediately impressed by the way they understood Panache Cruises and their willingness to work in partnership with us.

“It was more than just a transaction. They wanted to find ways of how they could benefit us and establish a long-term relationship.

“The £2.75m provides enough cash padding to take us through the next few years.”

Panache Cruises has grown turnover by 64 per cent to £41m in the last 12 months – and is on track to top £50m in revenue by the end of their financial year in May 2026.

Cole, who founded Panache Cruises in 2020, said: “The money will be used for growth and investment. There are always bumps in the road when you scale a new business and this refinance deal will allow us to smooth those bumps out.

 “Our ‘Mission 2030’ goal is to become the world's largest seller of luxury and ultra-luxury cruises by the financial year 2030 and the only way to do that is to expand internationally.

“Expanding internationally has been part of our plan from day one.  We opened an office in the US in 2024 and will be expanding next into Canada and Australia in H1 2026 as they’re both growing players in the cruise line industry.

“Both will be underpinned by our Chorley team, where all our product, marketing and finance is handled. 

“We opened our new US office in 2024 with a team of 10 and would expect to initially have similar numbers dedicated to Canada and Australia.”

Aaron Bevis, global relationship director, HSBC UK, said: “We’re proud to support Panache Cruises as it expands its operations into new international territories. 

“Operating in a highly competitive industry, they have demonstrated a clear vision for long-term growth. We look forward to seeing their ongoing success.”

Lancashire Business View reported in July that Panache had made a string of new hires. 

It recruited cruise connoisseurs Lisa Buckley, Wendy Mulholland and Rob Ledsham, along with finance apprentice Amy Ainsworth.

It also celebrated the first anniversary of the opening of its US office, which had achieved sales of $10m (£7.3m).