EFG loan helps Subway empire grow
BROTHERS Mark and Simon Ledwick have expanded their fast growing empire of Subway sandwich franchises, and bought three more stores in Lancaster, after securing funding through the Enterprise Finance Guarantee scheme.
The pair have bought the town centre Subway stores on Lancaster Street and Church Street, along with a store located within a petrol station and SPAR garage at Rylands, for a six figure sum.
The brothers, who purchased their first Subway franchise less than three years ago, now own eight stores after buying the Lancaster sites. The other stores are in Workington, Carlisle, Barrow in Furness and Whitehaven.
Mark Ledwick said: “We are very happy to have completed the purchase of the three Lancaster stores and they will enhance our existing portfolio. The Lancaster sites are well established and have a loyal customer base. Our aim across all our stores is to ensure customers enjoy their visit and this will be our priority in Lancaster.”
The funding was provided by NatWest in Preston, using the Government’s EFG scheme. Under the terms of the scheme the government guarantees 75% of loans made and the bank covers the remaining 25%.
