Clapham House Group sets its sight on more growth
Clapham House Group is pushing on with its ambitious growth strategy, despite doubling the size of its estate with the £25m purchase of Tootsies in April.
Restaurant operator Clapham, which now has 61 restaurants and four brands, will open 10 more Gourmet Burger Kitchens (GBK) in its current financial year.
Five other non GBK-sites are also on the way, including a new Bombay Bicycle Club (BBC) restaurant in South London's East Dulwich and a Tootsies at Brent Cross Shopping Centre, North-west London.
Clapham has also sent out a site prospectus to various UK property agents, targeting more than 100 locations for GBK, and a similar list is being drawn up for BBC in London.
David Page, Clapham's managing director, said: "We aim to add 35 restaurants to the group within the next few years."
In October 2005 the company finalised the purchase of Gourmet Burger Kitchen ahead of schedule, and also made a final payment for BBC in the year.
Group turnover for the year to 31 March was 132% higher than last year at £17.3m (2005: £7.5m) Pre-tax profit was £684,000 compared with a loss of £605,000 a year earlier.
Clapham has agreed terms on a new £19m bank debt facility to fund expansion.
- Its international franchisee in the Middle East, GGC, launches its first GBK restaurant in Kuwait later this month, with Dubai openings to follow.
Clapham House announces finance boss to drive expansion >>
By Chris Druce
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