FishWorks raises £2.3m additional funds

16 November 2007 by
FishWorks raises £2.3m additional funds

FishWorks has raised £2.3m through a share placing to accelerate its recovery plan.

Rescued by a new owners Luke Johnson and Gary Answorth in February, the company is currently reviewing a number of its restaurant sites for possible disposal.

At the same time it said the additional funds would allow it to roll-out more larger, and therefore profitable, FishWorks.

The company's new management team, headed by chief executive Paul Goodale, has already redesigned the menu, extended opening hours and introduced a central reservation system to return the firm to profit.

In the full year to 31 July the restaurant-cum-fishmonger recorded a loss of £1.55m on turnover of £10.7m.

The placing shares will be admitted to the Alternative Investment Market on 11 December.

FishWorks losses balloon after year of change >>

FishWorks appoints new chief executive >>

Two more FishWork directors quit >>

Luke Johnson and Gary Ashworth rescue FishWorks >>

By Chris Druce

E-mail your comments to Chris Druce]( raises £2.3m additional funds) here.

[The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking