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.
Did we miss something? Let us know: [email protected]
Want to be the first to receive all the latest news stories, what’s on and events from the heart of Manchester? Sign up here.
Manchester is a successful city, but many people suffer. I Love Manchester helps raise awareness and funds to help improve the lives and prospects of people across Greater Manchester – and we can’t do it without your help. So please support us with what you can so we can continue to spread the love. Thank you in advance!
An email you’ll love. Subscribe to our newsletter to get the latest news stories delivered direct to your inbox.
Got a story worth sharing?
What’s the story? We are all ears when it comes to positive news and inspiring stories. You can send story ideas to [email protected]
While we can’t guarantee to publish everything, we will always consider any enquiry or idea that promotes:
- Independent new openings
- Human interest
- Not-for-profit organisations
- Community Interest Companies (CiCs) and projects
- Charities and charitable initiatives
- Affordability and offers saving people over 20%
For anything else, don’t hesitate to get in touch with us about advertorials (from £350+VAT) and advertising opportunities: [email protected]
The very special toy shop where parents don’t pay a penny is open – and busier than ever
Manchester’s oldest homelessness charity celebrates 40 years of supporting the needy
Games, science and history collide at Manchester’s Science and Industry Museum this winter
Best bars and pubs to watch the football and live sport in Manchester
How Baguley Hall Primary School is nourishing minds with a morning Magic Breakfast
