Recovery at Paramount sparks expansion plans
Chez Gérard owner Paramount has announced plans to expand its chain of restaurants both in and outside London, following a successful turnaround of the business.
Earlier this week the group posted a 5.6% increase in turnover to £31.2m for the 12 months to 27 June, with pre-tax profit reaching £1.8m, up from a loss of £230,000 in 2003.
Chief executive Nick Basing said Paramount was now focused on expanding its Chez Gérard and Bertorelli restaurants in London, where it was in advanced negotiations on a number of new sites.
The group also plans to expand its two new restaurant formats, Brasserie Chez Gérard and Caff‚ Bertorelli, outside the capital.