Outback Steakhouse UK seeks fresh investment
Outback Steakhouse is seeking fresh investment to fund the expansion of its six-strong steakhouse estate in the UK.
The group, which was rocked by the defection of managing director Phil Broad to Starbucks last year, has appointed Coffer Corporate Leisure as advisor.
Outback, which opened its most recent site at Stevenage Leisure Park, Herefordshire, last year, is headed by operations director Mike Palmer.
Outback revealed plans under Palmer last year to turn its attention to the burgeoning leisure park market but admitted later that finding large sites in such locations was proving difficult.
An alternative option for the business is believed to be an outright sale, which might even see the Outback franchise jettisoned.
Launched in 2001, the original management team behind the UK franchise of the global chain had ambitions for more than 100 restaurants in the territory, but progress has been slow.
Stephen Minall, director, Moving Food, said: "Establishments such as Outback housed in large sites are increasingly finding it hard to make money.
As a result many are looking for additional funding or a strong brand to acquire. However, I'm not sure if Europeans have generally become tired of the whole Americanised Tex Mex/Steakhouse concept."
Outback Steakhouse seeks new sites >>
Outback Steakhouse switches focus to leisure parks >>
Mike Palmer to head up Outback Steakhouse restaurant operations >>
By Chris Druce
E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Outback Steakhouse UK seeks fresh investment) here.
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