UK Restaurant Industry seeing an Influx of Funding

Image of New RestaurantRestaurants across the country have struggled over the past few years as people tried to save money by sacrificing eating out. However, now that the UK is out of the recession more and more people are spending money in a variety of restaurants, and the industry in turn is seeing an influx of funding. In fact, just this week we have read that Viva Brazil in Liverpool is spending a quarter of a million pounds on refurbishing their restaurant in Castle Street.

The plan for the restaurant includes installing a larger bar and an exclusive seating area on the first floor, as well as creating a bigger menu and hiring more members of staff. The money will also have to cover necessities such as rent for the premises and restaurant insurance. Andy Aldrich, owner of Viva Brazil, has claimed that he is planning on opening two further restaurants within the next year. He added: “These are very exciting times for Viva Brazil. As Liverpool is the flagship restaurant in the group we want to ensure we never rest on our laurels. We continually strive to ensure we are bringing our customers the highest of standards and the very best in Brazilian cuisine seven days a week.

“This massive refurbishment will enable us to offer even more to both our existing customers and hopefully lots of new customers too. It is fantastic news too that we are now also nearing completion on two new sites.” Down in the Midlands there is also a flurry of excitement in the restaurant world as Red Hot World Buffet is spending two million pounds on renovating the old Litten Tree pub on the corner of High Street and High Cross. Along with the new restaurant, it is expected for seven new clothing and food outlets to also open soon, highlighting the economic improvement in the area.

Highcross general manager Jo Tallack said: “These exciting new retailers and restaurants show just how we’re responding to the increasingly savvy and adventurous shopper on the lookout for fresh taste experiences, as well as great value, choice and convenience. We’re delighted to be welcoming the popular Mexican restaurant Chimichanga, Byron, AKA the proper hamburger restaurant, Red Hot World Buffet and Stone Baked Pizza. The development of these dining choices, especially in St Peter’s Square, helps us attract more people to Leicester and encourages them to spend longer in the city centre – day and night – which is great news for Highcross and the city as a whole.”

Meanwhile, James Horler, chief executive of the Red Hot World Buffet group, said: “We are very excited to be moving into Leicester and with more than 1,500 people applying for 70 jobs with us, I’m sure it will be a successful investment. After the success of the Red Hot World Buffet in Nottingham, Liverpool and Leeds, we thought there would be a real taste for this kind of venue in Leicester.”

Current restaurant owners in Leicester are also happy to see money being invested in the area, with Hamza Bodhaniya, owner of Brü cafe on Granbury street, saying: “I think Granby Street is a beautiful road when it comes to the architecture but unfortunately, over the years, it seems like a lot of people have headed over to the other side of town and neglected it. I’m hoping that with us moving in, and the council moving into the old Poundstretcher building, then the area will benefit.” Local residents are also benefitting from new restaurants being opened in their areas, such as in County Down where a new restaurant is looking for twelve full time staff members.

The Anchorage will be based in Holywood and is the fourth restaurant opened by twenty nine year old Paul Savage. Discussing his business, Mr Savage says that he plans to open even more restaurants in the future and added: “The overall business plan is to open one a year. The restaurants really pay for themselves after about seven or eight months.” Hopefully, all of the new restaurants mentioned in this article will be a great success, encouraging owners to open up further businesses in the future.

Photo by Alex Castella / CC BY 2.0

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