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Chain of quick service restaurants

Reference
S7619
Turnover
£2m to £5m
Sector(s)
Food & drink
Region(s)
North West England, South West England, West Midlands
Added
06 April 2021

Business description

  • Operating under an established and recognised brand name (particularly in the Bristol market), Project Victoria primarily serves the office worker population and university markets with breakfast, lunch and coffee from prominent, high footfall, central business district locations.
  • Project Victoria has, however, been adversely impacted by the financial effect of Covid-19 and entered into a Company Voluntary Arrangement in October 2020 with a view to exiting the Manchester and Birmingham markets, re-negotiating terms with landlords, and re-focussing future operations in Bristol.

Highlights

  • Established and recognised brand/ trading name;
  • Leasehold property portfolio;
  • Fully fitted and established stores, in prominent central business district locations;
  • Key customer base –office worker population and students/ universities; 
  • A strong reputation for a high-quality product and service, along with sustainability; 
  • A large app customer database;
  • Experienced management and established store team; 
  • A track record of growth and expansion, bringing opportunities to expand the store portfolio; 
  • Opportunity to develop a franchise network (previously implemented by the company at one location);
  • Financially unviable stores already addressed/ closed through CVA process (although leases yet to be determined, bringing the possibility for a purchaser to re-open in Manchester and Birmingham).

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2017 (Actual) 4,269 196
2018 (Actual) 5,048 -239
2019 (Actual) 5,666 -206
2020 (Actual) 2,943 -162
2021 (Actual) 177 -393

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