Coal Grill & Bar commences expansion

15-Apr-2014 - Last updated on 17-Apr-2014 at 09:09 GMT

Coal Grill & Bar has secured additional funding from Beringea and Octopus Investments

Coal Grill & Bar will commence its next phase of expansion after securing additional growth funding from Beringea and Octopus Investments.

The company, which already owns six sites, is opening new restaurants this year at locations in Swindon, Gloucester Quays and Cheshire Oaks. It also has plans to secure six new restaurants every year for the next three years.

Coal Grill & Bar's founder and chief executive John Gater said: “This is a very exciting time for the business. We have demonstrated our ability to deliver strong returns for a number of years. I am delighted that our financial backers have now committed more funding to increase the number of openings.”

Beringea managing partner Stuart Veale said: “Coal Grill & Bar has a formula which has proved extremely popular. We look forward to supporting the brand as it continues its expansion throughout the UK.”

Chairman at Charterhouse Leisure, the firm behind the Coal Grill & Bar brand, James Horler said: “John and the team at Coal have continued to deliver a very strong trading performance and this has given everybody confidence that now is the right time to step up the opening programme and accelerate the growth of the brand.”

Coal Grill & Bar currently operates sites in Bristol, Bristol Waterside, Milton Keynes, Exeter, Sheffield and Basingstoke.