Barburrito, the Manchester-based Mexican-style casual dining chain, has said that co-founder Paul Kilpatrick has stepped down from the company to pursue other interests, as the 10-strong group reported a 16% rise in turnover to £4.6m for the year to 31 March 2013.
The company, which is led by Morgan Davies and backed by the Business Growth Fund, opened four sites in the year leading to pre-tax losses increasing from £77.7k to £328k.The group is currently looking to hire a full-time finance director.
Davies said that since year-end the group, which is set to open at 60B Holborn Viaduct in March, had seen strong like-for-like sales across its stores and that there were a couple more sites in the pipeline.
He said: “For us as a company it’s very important that we open the right stores and don’t spread ourselves too thin. We’re looking at London and other key cities outside of the capital.”
On Kilpatrick, who remains a shareholder in the company, he told Insider Business: “Paul and I have one way or another been in business together for over ten years. I’m operating as chief executive now but everything else remains as is.”
