Wingstop secures multi-million pound debt facility

By Georgi Gyton

- Last updated on GMT

 Wingstop secures multi-million pound debt facility

Related tags: Wingstop, Casual dining, Fried chicken, QSR, R200, Multi-site

Lemon Pepper Holdings, the master franchisee of Wingstop UK, has secured a multi-million pound debt facility from Barclays to help facilitate the continued roll out of the brand.

It is understood Lemon Pepper Holdings/Wingstop UK are one of the first new clients for Barclays Corporate in the restaurant and hospitality sector since the impact of Covid 19.

Paddy Bamford CFO of Wingstop UK said: “It’s great to partner with a bank who were able to offer us a bespoke financing solution and could see the potential for the brand in the UK market.”

Wingstop Inc’s president and CEO Michael Skipworth said recently that the success it had had in the UK was 'a clear demonstration of the power of our international growth strategy' and 'a blueprint for success' in its other markets.

Speaking during an earnings call following its first quarter results earlier this month, he said he UK market was focused on a heavy on-premise digital business with a premium positioning.

Lemon Pepper Holdings now operates 20 restaurants in the UK, with 15 openings slated for 2022, he said

Commenting on the group's new debt facility, Chris Francis, relationship director at Barclays Corporate Bank, said: “We are pleased to be able to support Lemon Pepper Holdings Limited with the provision of a new loan facility, and look forward to seeing the continued growth of their business across the UK.”

Related topics: Business & Legislation, Casual Dining

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