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Red's heading for ten restaurant target

Red's True Barbecues to Hit Tally of Ten Restaurants Following Funding - SantanderCB

James Douglas, co-founder of Red's True Barbecues, has said that he and business partner Scott Munro will reach their tally of ten restaurants in the coming months. The company, which has secured an additional £9m facility from Santander and a group of investors to fund expansion, already has branches in London, Nottingham, Manchester, Liverpool and Headingly. 'We're opening in Sheffield first,' said Douglas, 'and the West Midlands after that. Everything is going to plan, everything is going great.' The latest investment is a majority debt arrangement with Santander, coupled with a secondary round of equity investment from a panel of industry leaders including Ian Neill, Maurice Abboudi and Brandon Stephens. Munro said the latest cash boost would allow the business to open 8-10 new restaurants over the next two years.

 

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