Market Halls is launching a £1m crowdfunding campaign, offering shares to all investors with scaled incentives including discounts in the venues, VIP hire of event spaces and access to events.
The food hall brand was on track to grow revenue by 77% in the 2020 financial year and generated more than £15m in revenue in the 12 months prior to lockdown. However, following lockdown and the government-enforced closure of sites, the group launched a company voluntary arrangement.
Market Halls was founded in 2017 and has sites in Fulham, Oxford Street and Victoria. It has reopened two of its sites and is set to open its fourth venue in London's Canary Wharf next year.
Andy Lewis-Pratt, founder and chief executive of Market Halls, said: "Since launching in 2018 in Fulham and Victoria we were so overwhelmed with their success that we opened our third site on Oxford Street in 2019 and shortly after that, the world went into lockdown. After 18-plus months of Covid-19 and careful strategic planning, we have partnered with Gees Court Partners and are finally able to reopen and pick up where we left off. We are so pleased to be working with Seedrs to give investors the chance to capitalise on the pent-up demand for great times and memorable experiences."
Esat Kolege, founding partner of investment firm Gees Court Partners, added: "We are proud to have invested in Market Halls, helped them navigate through the pandemic and partnered with them on their re-opening journey. We have decided to lead a new round of funding that will not only help Market Halls gain momentum but project them into new locations and unlock further growth opportunities. Our community has always been an integral part of the story and now, for the first time, we invite them to become shareholders and brand ambassadors."
Pre-registration for the campaign is open on Seedrs ahead of the public launch on 4 August.