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Pieminister reveals plans for £1.65m HSBC investment

Bristol-based Pieminister has revealed it will use the new £1.65m finance package it has secured from HSBC to open three restaurants, invest in a new plant, and improve efficiencies.

The company has already opened one of the restaurants – in Brixton Market – and is currently considering two further openings in the north of England for early 2018.

Pieminister will also use part of the asset finance facility to invest in a new plant and machinery to increase capacity at its kitchens in Bristol and improve efficiencies.

Last year, the company said it was eyeing 30 restaurants by 2020 after securing a £1.4m finance package from HSBC.

Pieminister co-founder and managing director Jon Simon said: “HSBC has once again shown unwavering support for Pieminister and our ambitions to continue expanding our restaurant portfolio across the UK.”

James Shepherd, HSBC area director for Bristol, Gloucestershire and Wiltshire, added: “Pieminister has an impressive track record, which meant we were quickly able to put a finance package in place that has already helped secure and fit-out the first of three new restaurant sites in the UK as well as improve other processes across the business.”

Simon founded Pieminister in 2003 with brother-in-law Tristan Hogg. It has restaurants and cafes in Bristol, Bath, Birmingham, Nottingham, Manchester, Cardiff, Leeds, Oxford, Stoke-on-Trent and London.

Pieminister pies can also be found in pubs, market stalls and supermarkets.

Last month, the company branched out to open escape rooms above its Nottingham site.

 

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