Skip to content

Coal Grill and Bar to embark on aggressive rollout

21 | 03 | 13

The Coal Grill and Bar chain is set to carry out an "aggressive rollout" after receiving a new funding deal from its backers.

It currently runs six casual dining restaurants in Basingstoke, Bristol, Bristol Waterside, Exeter, Wimbledon and Meadowhall in Sheffield. Each of these outlets has a varied menu including breakfast, sandwiches, a wide range of a la carte mains and desserts. They also provide a specific children's menu.

Charterhouse Leisure, which owns the brand, made the announcement as it released its financial results for the last year.

Like-for-like sales increased by 4.4 per cent compared to the previous year and total sales reached £8.2 million. The company's earnings before tax showed impressive growth, rising by 27.6 per cent to £1.2 million.

It managed to reduce its bank debt by more than a third throughout 2012 and has received new support from Barclays to fund a more aggressive expansion strategy. The firm will also receive additional investment from its two private equity investors - Beringea and Octopus VCT.

No further details have been revealed about the rollout and the location of any new outlets. However, it is likely the company will be employing the services of a catering and kitchen equipment supplier once a decision is made.

John Gater, Charterhouse Leisure's founder and chief executive, said: “I am very pleased that in a difficult economy we have demonstrated considerable progress throughout the year in terms of growing our average unit sales, building a loyal following from our customers and strengthening the brand."

He added: "I am delighted that we have also secured the support of our investors and bank to provide additional funds to enable the brand to open more outlets.”

James Horler, the company's chairman, added: “These are very strong numbers from John and his team. They have proven that Coal can outperform other brands at retail/leisure destinations. The family-friendly brand serving quality fresh food is now poised for a period of expansion.”ADNFCR-16001031-ID-801560342-ADNFCR

PageID: 9

BasketID: 0

AgentID: 371

VisitorID: 0