The New World Trading Company(NWTC), the Living Ventures and Hill Capital backed business, has firmed up its plans to accelerate its launches and more than double the number of operating units during the current year.
Created in 2011, NWTC currently has 4 sites: 2 Botanists in Alderley Edge and Leeds (pictured above), an Oast House in Manchester and the most recent opening, the Smugglers Cove in Albert Dock, Liverpool.
NWTC offers pub style restaurants that serve a range of local ales as well as Champagnes and creative cocktails. Food comes in the form of a rustic deli menu with offerings from the BBQ, rotisserie and a selection of classic home comforts and entertainment is provided through live and acoustic music. NWTC has already grown annual revenues to in excess of £4.5 million to March 2013.
5 sites to open 2014
It is planned that a further 5 will be opened in the current year with sites located in London, Birmingham, Glasgow and 2 more in Manchester. This expansion will be funded through a new bank facility of £2.2m from Lloyds Banking Group.
Tim Bacon Non Executive Chairman of NWTC said:
“This is an exciting moment for NWTC and its ambitious management team as the business moves from the experimental to proper roll out phase. It has worked really well in the North and now we are confident to expand it further afield… London, Glasgow, and Birmingham as well as consolidation in the North West.”