Smiths of Smithfield has secured a £2.25m bank facility from Barclays to aid the launch of its new all-day dining concept called SMITHS on the site of the former The Luxe unit in London’s Spitalfields Market, which opened last week.
The facility includes a debt refinance and a working capital component.
The company said that the opening of the site marked a strategic step for the flagship, which will see the development of any roll out strategy take place under the new ‘SMITHS’ concept.
Last month, the company told M&C Report that it was not looking to make SMITHS a “mega-brand”, but at the same time “there may well be opportunities we choose to explore in London” for further sites under the concept.
SMITHS Spitalfields is an all-day dining venue that “celebrates the best of British - bringing the unbeatable taste of British meat together with the finest British seasonal produce”. The new site spans four floors and feature The Loft, which will entertain private diner
Sami Ghamloush, relationship director in Barclays’ Hospitality and Leisure team, said: “’Smiths’ of Smithfield is an established and iconic London restaurant, and its newly branded site will be a welcome addition to the increasingly popular East End. With London restaurants doing particularly well on the back of a good summer, this is an exciting time for the brand.”
‘SMITHS’ head of operations Colin Clarke, said: “‘Smiths’ of Smithfield has been an enduring part of London’s vibrant restaurant and bar scene for over a decade. It was one of the first all-day venues to offer a menu built around British meat, and quickly became renowned for using only the finest, rare breed beef. Our brand is both loved and cherished by its loyal customers, so we’re incredibly excited to bring the varied ‘SMITHS’ experience to Spitalfields.”
