Tomahawk in talks to secure funding to snap up other steakhouse groups

Tomahawk Steakhouse group said it has been courted by numerous private equity firms and is in early talks to secure funding towards acquiring smaller steakhouse groups coming to market.

Owner Howard Eggleston said: “2022 has opened out to be a really exciting time for the expansion of the Tomahawk group and we have been inundated with potential sites all over the UK.

"We are busy daily touring the country meeting with landlords and agents securing sites, but that doesn’t mean we are anywhere near capacity!”

Tomahawk, which owns the RIO Brazilian Steakhouse concept, has a portfolio of 14 sites across the UK and plans on opening a further eight before July including in Saltburn, Chester, Sunderland and Durham, Morpeth, Harrogate and Didsbury.

Last year the group was criticised for asking furloughed staff to pay their own pension and National Insurance contributions by way of a voluntary loan to the company while it was experiencing cash flow issues.

Tomahawk denied that employees were told they would be sacked if they did not sign the loan agreement. The group has since repaid staff plus an additional 20%.