Restaurant chain secures £3.5m from BGF
By Tom BelgerThe Business Growth Fund (BGF) has provided £3.5m to a restaurant chain to allow the company to accelerate its new site rollout
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Filmore & Union – which currently operates 14 sites and recently opened a concession in John Lewis – will use the funding to expand its portfolio across the North of England and the Midlands.
The restaurant group has already raised £865,000 on Crowdcube and generates revenues of more than £6m.
As well as the investment, Kevin Bacon, the former managing director at Frankie & Benny’s, has joined Filmore & Union as a non-executive chair following an introduction by BGF.
“We are delighted to be partnering with BGF,” said Adele Ashley, founder of Filmore & Union.
“We had a number of other options, however, BGF’s long-term approach, as well as its broader network, was very attractive and the investment will help us accelerate our growth plans.”
BGF’s investment into Filmore & Union was led by Chris Boyes and Mike Clarke, with John Hamer and Thomas Mieszkowski of Walker Morris providing legal advice.
“Adele has created a popular restaurant concept which caters to the growing market for customers who are focused on eating well,” said Chris.
“The team has established a good foundation to continue the rollout across the UK, and we are excited to support the next stage of growth.”
Picture attributed to BGF
Keywords: Fimore & Union, Chris Boyes, Mike Clarke, Business Growth Fund, BGF, Restaurant group, business finance, SME finance, SME lenders, SME loans, Business growth fund projects, Business lending