Gourmet Holdings today got the go ahead to raise nearly £5m to further expand its Café Richoux and Bel and the Dragon chains.

Shareholders at an extraordinary general meeting (EGM) backed plans for the placement of 14.4 million shares on the Alternative Investment Market (AIM) next week (5 December).

Gourmet Holdings previously said the move would raise £4.9m net of expenses to fund ambitious plans to build its two chains into national brands.

Chairman Nigel Whittaker said before the EGM: “We are now able to accelerate the roll-out of our pub-restaurant business following the strong support we have received from both existing and new institutional investors.”

Gourmet Holdings has six pub-restaurants, three operating under the Bel and the Dragon name. It also has four Richoux restaurants in central London.

By Chris Druce

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