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Pieminister secures ?1.4m investment

By Laura Collacott  Monday May 23, 2016

Pieminister has secured a £1.4m finance deal with HSBC that will enable it to open five new restaurants across the UK, bringing the total portfolio to 16. It is anticipated that the expansion will also create more than 80 news jobs. 

The funding will be used to open new restaurants in university cities, in line with the company’s strategy, targeting Bath, Birmingham, Edinburgh, Glasgow, Leeds, Liverpool, Manchester and Sheffield. It will also to refinance existing locations in Manchester and the Midlands. 

Co-founder and managing director Jon Simon said: “The five new stores, which wouldn’t have been possible without this latest round of funding from the bank, will underpin the next stage of our growth plans and will help to increase our turnover by around £4.5 million a year.”

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Pieminister continues to grow its pie dominance. Made in a Brentry factory, its pies are sold in pubs and market stalls around the country as well as selected supermarkets. 

 

Read more: Watershed gets funding boost

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