A restaurant chain with four sites is scouting for new locations after receiving additional private equity funding to accelerate its expansion plans in 2018.
East Coast Concepts, which employs more than 300 staff across four sites, was backed by NorthEdge Capital 18 months ago to support its roll-out across the UK.
It will use the extra finance to secure more branches of its vibrant dining concepts Neighbourhood and Victor’s.
East Coast Concepts was established by entrepreneur James Hitchen, who took inspiration from New York’s dining district. Hitchen launched the group’s flagship Neighbourhood in Manchester’s Spinningfields in 2012 and has since added additional sites in Liverpool and Leeds.
It recently enjoyed a record Christmas trading period, with like-for-like sales increasing 10% in the six weeks to 7 January 2018, and overall sales up 48%.
Revenues for the Group in the year to December 2017 reached £10m – up from £6.3m the previous year. The latest figures put the group in a solid position to capitalise on further growth over the next 12 months.
“In Neighbourhood and Victor’s, we have two unique concepts which have continued to focus on innovation and delivering the best possible experience to our customers,” said Hitchen. “We have a world-class team that is incredibly creative and we have a number of exciting developments planned for 2018 as we look to develop East Coast Concepts into a truly national brand.”
East Coast Concepts has also just boosted its management team with the appointment of Nicky Sellers as operations director. She joins a team which also includes former Individual Restaurants finance director John Hammond and chairman Harvey Smyth, who is also Chairman of the Azzurri Group.