Red’s True Barbecue has secured £9m investment to fund its aggressive roll out plans across the UK. The majority debt deal also comprises a secondary round of equity investment from its original handpicked panel of industry leaders, including veteran Ian Neill, Maurice Abboudi (K10), non-exec board members Brandon Stephens (Tortilla), Stephen Wall (Pho) and Aarish Patel, and … [Read more...]
Good times with pies for Pieminister
‘Sticking to the plan’ through difficult times has paid off for Pieminister who have reported a profit before tax of £99k in the financial year to 31 March 2015, compared to a loss of £109k for the same period in 2014. Sales revenues have grown by 21% to £9,197k (2014: £7,598k): a direct result of a strategic decision to remain resolute in their focus to grow their presence … [Read more...]
New £50m Motorway Service Area for Leeds
The Leeds City Region is set to benefit from a ‘new concept’ Motorway Service Area (MSA) at Junction 45 of the M1. Located within the Aire Valley, it will create at least 700 job opportunities, being some 400 in the construction phase and including 300 permanent new full-time equivalent jobs when the MSA opens. Subject to receiving Planning Permission next year, the opening of … [Read more...]
Gusto Restaurants reports rapid growth and rollout programmet
Gusto, which operates 12 premium, modern Italian restaurants across the north of England and Scotland, achieved another strong financial performance for the year ended 31 March 2015. Overall sales, excluding discontinuing operations, increased 22% to £18.2m with like for like sales outperforming the wider market and growing 6.9%, with site EBITDA up 15% on the previous … [Read more...]
Brasserie Chavot to close
Eric Chavot, Chef Patron at Brasserie Chavot in Mayfair has confirmed the imminent closure of the restaurant, saying: “After almost three fantastic years at Brasserie Chavot in Mayfair, we have taken the decision to re-locate the restaurant and to expand the brand. It is an exciting time for my brigade and I. We will announce the first of our new sites shortly.” The … [Read more...]