Market Halls launches £1m crowdfund campaign

By James McAllister

- Last updated on GMT

Market Halls launches £1m crowdfund campaign

Related tags: Market Halls, crowdfunding, Street food, Food Hall

Market Halls is to launch a £1m crowdfund campaign through Seedrs early next month.

The London-based food hall operator, which has three locations across the capital in Victoria, Fulham and the West End, describes itself as 'a clear market leader' and prior to the first national lockdown was on track to grow revenue by 77% in the 2020 financial year having generated more than £15m of revenue in the 12 months of trading to March 2020.

Market Halls has now begun a staggered reopening its sites, having announced in July last year​ that it had taken the decision to keep all of its sites closed while social distancing remains.

It also plans to launch a new site in Canary Wharf​ next year. 

In June, Market Halls launched Company Voluntary Arrangement (CVA) proposals for its four group entities​ in a bid to secure its future following more than a year of closure. The move formed part of a financial restructuring programme funded by a new investor in the business, Gees Court Partners.

The CVAs were were approved on 16 June by 99% of creditors.

“Since launching in 2018 in Fulham and Victoria we were so overwhelmed with their success that we opened our third site on Oxford Street in 2019 and shortly after that, the world went into lockdown," explains Andy Lewis-Pratt, founder and CEO of Market Halls.

"After more than 18 months of Covid-19 and careful strategic planning, we have partnered with Gees Court Partners and are finally able to reopen and pick up where we left off.  We are so pleased to be working with Seedrs to give investors the chance to capitalise on the pent-up demand for great times and memorable experiences.” 

As part of the investment opportunity, investors will be offered not only shares, but a series of incentives including in-venue discounts; VIP hire of event spaces; and their name on the Market Halls founder wall.

“We are proud to have invested in Market Halls, helped them navigate through the pandemic and partnered with them on their re-opening journey," says Esat Kolege, founding partner at Gees Court Partners.

"We have decided to lead a new round of funding that will not only help Market Halls gain momentum but project them into new locations and unlock further growth opportunities.

"Our community has always been an integral part of the story and now, for the first time, we invite them to become shareholders and brand ambassadors.” 

Pre-registration for the Market Halls campaign is open on Seedrs​ and will open to the public on Wednesday 4 August.

Related topics: Business & Legislation, Street Food

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