NWTC boss “aware of risks of expansion” following £23m NatWest backing
The finance package includes a £4m capex facility which will help support the company’s ambitious expansion plans across the UK.
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Hill told The Morning Advertiser that the company is delighted to have secured the funds and NWTC is grateful to NatWest for its support and belief in the brand.
Dilution of culture
He added: “We are very aware of the risks of expansion and of the pitfalls that could come our way in terms of the dilution of culture – and if that’s a risk, everything else is a risk.
“The way we have approached our entire journey with NWTC is to grow more roots before we grow any branches.”
NatWest head of leisure Neil Parry said: “The NWTC is a business we have admired from day one.
“We are pleased to be partnering with the management team and providing the funding for the next phase of their very successful roll-out programme.”
Leading emerging brands in UK hospitality
He added: “With 16 sites today, NWTC is now regarded as one of the leading emerging brands in the UK hospitality market.”
Private equity backer of Hawksmoor and Corbin & King, Graphite Capital, acquired NWTC in a £50m deal last June.
NWTC opened seven new sites during the last financial year and following Graphite’s investment.
The company has also recently opened sites in York and Sheffield.
The pub group continues to expand across the country and currently employs 1,000 staff and with new sites set to open in Birmingham, Didsbury in Manchester and Reading in Berkshire, staff numbers will increase by a further 200.
