Barworks, the fast expanding bars and diners operator, plans to open four new sites in London this year.
The company, which is run by Anders Akerlund, Patrick Franzen and Mark Francis-Baum, is currently in negotiations regarding two sites for its American-style diner brand, The Diner, in the capital, as part of plans to grow the chain to up to 10 units over the next couple of years.
The privately-owned group currently operates five sites under the brand, in Camden, Kensal Rise, Islington, Shoreditch and Soho.
The company will open its 8th bar operation and 13th business in total, later this summer, after acquiring a former pub in Bethnal Green Road, near Shoreditch, which we re-open as the Well & Bucket. It also hopes to open a further bar before the end of the year.
Francis-Baum told M&C Report that the company intended to concentrate on expanding in the capital for the foreseeable future.
He said: “At the moment London is where we are focussed and we are excited by the possibilities both the bar operation and the Diner brand gives us. There is definitely scope to double the current size of the estate over the next few years.”
Although privately-funded at present, Francis-Baum acknowledged that the group may have to look at outside funding to achieve its expansion targets.
He said: “We are increasingly being approached by venture capitalists regarding investing in the business and it is something we will have to consider going forward.”
