The owners of Hale bar Victor’s have secured a multi-million pound cash injection to roll out the East Coast-inspired dining concept across the UK.
East Coast Concepts, which was founded by entrepreneur James Hitchen and his brother Guy, also owns Neighbourhood bar and eaterie in Spinningfields.
It has secured the development capital from private equity firm NorthEdge Capital and will allow Hitchen and his team to fulfill their ambitious growth strategy of rolling out the two concepts in city centres and suburban locations across the UK.
Ashley Road-based Victor’s has proved a hit since opening in August 2014 and will record a turnover of £2.5m this year. The business as a whole is expected to hit £8m this year and has recently started work on a second Neighbourhood site in Liverpool, which will take staff numbers to 200.
It’s also developed a reputation as something of a celeb haunt, with Coleen Rooney booking out the venue for her 30th birthday celebrations back in April with guests including singer James Bay, Real Housewives of Cheshire stars and, of course, husband Wayne.
James Hitchen, Victor’s founder, said: “Both brands have proven to be hugely successful in Manchester and we are delighted to have NorthEdge on board as a partner to support us through the next stage of our development.
“We are constantly looking for new ways to improve our offering and the additional funding from NorthEdge will give us the firepower to become one of the best premium casual dining brands in the UK.”
Phil Frame, Investment Director at NorthEdge, said: “James has launched two exciting, differentiated concepts in the North of England which have fantastic roll out potential. 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. James is a first class entrepreneur and we are delighted to be backing him and the rest of the team.”
