New World Trading Company to open five sites in 2014
The New World Trading Company, a four-strong pub and restaurant firm backed by Living Ventures, is set to more than double in size in the current year.
The company, created in 2011 and also backed by private equity firm Hill Capital, currently has two Botanists in Alderley Edge and Leeds, an Oast House in Manchester and most recently Smugglers Cove in Albert Dock, Liverpool.
All are pub-style restaurants that serve a range of local ales as well as Champagnes and cocktails. They also offer entertainment including live and acoustic music.
NWTC has already grown annual revenues to in excess of £4.5m to March 2013.
It plans a further five sites this year, located in London, Birmingham, Glasgow and two more in Manchester. This expansion will be funded through a new bank facility of £2.2m from Lloyds Banking Group.
Tim Bacon non-executive chairman of NWTC said: "This is an exciting moment for NWTC and its ambitious management team as the business moves from the experimental to proper roll out phase. It has worked really well in the North and now we are confident to expand it further afield… London, Glasgow, and Birmingham as well as consolidation in the North West."
