Searcys to roll out Champagne bar concept
Searcys, which runs the famous Champagne bar in London's St Pancras Station, plans to roll out the concept following a management buy-out.
The company has secured £3m in funding from Barclays Corporate and is in talks with "numerous leisure venues with a view to opening a number of new Champagne bars in the near future".
Current chairman Richard Tear and chief executive Doug Tetley led the takeover of Searcys, which was founded in 1847, from De Vere Hotels operator Alternative Hotel Group.
As well as running Searcys Champagne Bar at St Pancras — billed as the longest bar in Europe — the group's other high-profile sites include 40/30 and Searcys Club in the Gerkin building and Portrait Restaurant at the National Portrait Gallery.
Tetley said: "Searcys has operated for over 160 years in a hugely competitive arena, and has built a reputation that is unquestionably respected throughout the hospitality industry.
"We plan to focus on the company's core strengths to maintain that success going forward — namely the management of the food and beverage operations at prestigious venues, as well as the identification of other suitable locations for our Champagne bars.
"This deal will allow our clients complete peace of mind that the principles upon which Searcys was founded are still at the forefront of the business, and will give us the focus to drive and develop our business into the future."
