Leisure group undergoes refinancing ahead of latest venue opening
A refinancing at pub and leisure chain, Parogon Group, will enable its ongoing impressive growth, ahead of the launch of its latest venue in Cheshire.
Ahead of the opening of The Orange Tree Congleton, which will be Parogon’s 10th venue when it opens later this year, the group turned to advisors at Knights to help with refinancing.
Knights helped deliver a full group refinance with Cynergy Bank, giving Parogon a strong financial footing as it finalises plans for its latest restaurant.
The site, formerly known as The Cheshire Tavern, is set to undergo a £1m refurbishment before it opens its doors in the autumn.
Alongside the refinancing, Knights’ real estate specialists also worked with Parogon to maximise the potential of its portfolio of sites across Staffordshire, Shropshire and Cheshire, building on the success of venues including the Swan With Two Necks, The Orange Tree, The Broughton and the Willow at Trentham, The group’s most recent venture.
Parogon Group managing director, Richard Colclough, said: “We’re always looking for ways to bring Parogon’s unique dining out experience to new areas. The support we’ve had from Knights will help to make that a reality.
“Not only will we deliver a new experience for diners in the Congleton area with an incredible new Orange Tree design scheme, but also a fresh grill menu and our Parogon standards of service.”
Graham Hall, banking partner at Knights, said: “The Parogon Group are a stand-out business across an expanding area of the Midlands and North West.
“So it’s important that the business has everything in place to deliver on their exciting future plans. It was a pleasure to work with them to make that happen.”
Parogon was advised by Graham Hall (banking), and James Lunt and Elin Davies (real estate) at Knights.