Lilley’s Fourth Hospitality nets loan for growth

A COMPANY founded by North West restaurant entrepreneur Edwina Lilley to provide the hospitality sector with web-based services has secured a £2m loan.

Fourth Hospitality has secured the money from Lloyds TSB Corporate Markets to support its plans for national and international growth.

The business was founded in Macclesfield in 1999 by Edwina along with chief executive Ben Hood.

Edwina and her husband Derek Lilley were behind chains including Est Est Est, Restaurant Bar & Grill and Piccolino before they sold up in 1993. 

Fourth Hospitality now provides web-based labour, stock and purchasing solutions to over 350 hospitality businesses such as Pizza Express, Centre Parcs and Wagamama.

Its turnover increased from £6.7m in 2008 to £11m last year.

It is now headquartered in London’s Covent Garden and also has offices in Cheshire and Oxford, employing 150 people.

The funding package was put together by the Bank’s Manchester team and was led by Relationship Manager, Joanne Williamson.

Ben Hood, chief executive of Fourth Hospitality, said: “This deal marks an important milestone in our development. 

“In addition to maintaining our position in the UK market, we are keen to grow and expand our global offering, particularly in the US. 

“We needed a bank that would support our plans and provide the necessary funding to make them happen. 

“As soon as we started talking to Lloyds TSB Corporate Markets, it was immediately obvious that had found the right partner.”

Dave Allanson, area director for Manchester, East Lancashire and East Cheshire at Lloyds TSB Corporate Markets, said: “Fourth Hospitality is a fantastic success story, having continued to grow throughout a most difficult economic climate.

“Having worked with Edwina before on previous ventures, we were delighted to support this project because it is run by a strong management team that has a clear vision for the future. 

“We look forward to supporting them for many years to come as they look to grow the business into a world leader.”