27 August 2015
TLC Inns secures £1m of new funding with Barclays Corporate: Award-winning pub and restaurant operator TLC Inns, led by Steve and Jo Haslam, has secured a further £1m of funding with Barclays Corporate to aid the expansion of its Grand Central bar and grill brand.
Steve Haslam said: “We are currently in negotiations for 6,000 sq ft of space in Chelmsford and have two other sites on our radar. Having achieved our highest ever level of Ebitda in quarter one and undergone our biggest ever expansion period, we are now fully committed to further expanding the Grand Central brand.”
“After 18 months of new openings, we have also refreshed all sites and are currently undergoing a root and branch assessment of our costs. This has led to some amazing results already with a 30% reduction in waste costs. We continue to look at all areas including utilities. Our whole estate now operates on low energy bulbs and waterless urinals, which are saving thousands of pounds. We are conscious of energy costs within our kitchens and have signed with Synergy grills to supply our estate with their new innovative grills.”
“With a 40% energy saving on the most expensive piece of kit in the kitchen to run, this was an easy decision to make, coupled with the food being a far better product to the plate, lower maintenance and cleaning, it will revolutionise our current grill system.”
“Once our assessment is finished and all areas implemented, we expect savings in the region of £100,000 and this will not lead to a single customer-facing cut, but improvements to our efficiency, leaving us in a position to actually invest further in the customer experience.”
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