Independent Spar retailer Alfred Jones has secured a £10m refinancing deal with The ­Co-operative Bank.

The flexible financing package will help the retailer "to further develop its portfolio of 75 Spar outlets throughout the north west", said a statement.

"A financial review was required to ensure provision for the company's long-term requirements," said Alfred Jones MD Tom Calderbank.

Alfred Jones had a turnover of £106.9m and recorded pre-tax profits of £1.2m according to the most recent accounts available for the year ending April 2009.