Coal Bar and Grill secures £2m expansion pot
Coal Bar and Grill has so far raised £2m to fund its expansion and hopes to add to that figure soon.
The news came after Charterhouse Leisure, the firm behind the brand, announced positive results for the year ended February 2013 last week.
At the time Charterhouse signalled that it had plans for an aggressive roll-out for Coal bar and Grill, which currently operates six sites.
Chairman James Horler told Caterer and Hotelkeeper that the £2m the company has secured for its growth is a 50% split between debt and equity.
"The new restaurants will be on retail/leisure destination sites, where Coal performs very well, being in the top four sales per sq foot in Basingstoke, Bristol and Exeter against many UK chain operators," Horler said.
He added that the company would target sites where what he termed "Middle England" demographic groups were based and that the company hoped to announced a number of new openings shortly.
