East Coast Concepts receives investment to expand Neighbourhood and Victor's
The company, founded by brothers James and Guy Hitchen, plans to roll out its all-day restaurant and late night bar Neighbourhood into key cities such as Manchester, Liverpool, Birmingham, and Cardiff while it is looking for more suburban sites for its East Coast inspired Victor's restaurant.
Currently Neighbourhood is located in Manchester's Spinningfields with a second due to open Liverpool later this year and Victor's is in Hale, Cheshire. The business expects to turnover £8m this year.
James Hitchen said: “Both brands have proven to be hugely successful in Manchester and we are delighted to have NorthEdge on board as a partner to support us through the next stage of our development. We are constantly looking for new ways to improve our offering and the additional funding from NorthEdge will give us the firepower to become one of the best premium casual dining brands in the UK.”
The deal was led by NorthEdge investment director Phil Frame and investment manager James Marshall. As a result of the deal Frame will join East Coast's board as a non-executive director.
He said: "James has launched two exciting, differentiated concepts in the North of England which have fantastic roll out potential. The casual dining scene continues to demonstrate strong dynamics for innovative concepts and we believe both Neighbourhood and Victor’s are well placed for further growth. James is a first class entrepreneur and we are delighted to be backing him and the rest of the team.”
