Neighbourhood bar owners secure multimillion-pound injection to roll out brands across the UK
- Written by I Love MCR
- Last updated 8 years ago
- Food & Drink
Following the spectacular £1m refurbishment of Neighbourhood, the popular Spinningfields all-day eatery and late bar, there’s more good news from owners East Coast Concepts.
The company behind Neighbourhood and Victor’s of Hale, another premium casual dining brand, have announced that they have received a multi-million pound injection of development capital from private equity house North Edge Capital.
This will allow founder James Hitchen and his team to grow the brand and solidify their status as one of the premium dining brands in the UK and will involve rolling out the two concepts in city centres and suburban locations across the UK.
“The casual dining scene continues to demonstrate strong dynamics for innovative concepts and we believe both Neighbourhood and Victor’s are well placed for further growth,” said Phil Frame, investment director at NorthEdge. “James is a first class entrepreneur and we are delighted to be backing him and the rest of the team.”
The business is expected to record turnover of £8m this year and has recently started work on a second Neighbourhood site in Liverpool which will take staff numbers to 200.
- This article was last updated 8 years ago.
- It was first published on 30 June 2016 and is subject to be updated from time to time. Please refresh or return to see the latest version.
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