Restaurant re-opens with bank funding

Matt Smith, Dan Pawar (HSBC) and Yvonne Smith

The Olive Tree restaurant in Staffordshire has re-opened after its new owners secured a five-figure bank deal.

The restaurant in Lichfield has been purchased by Matt Smith and his mother Yvonne, who together have over 10 years’ experience in the hospitality industry.

As well as supporting the restaurant purchase, 25% of HSBC UK’s funding has been used to renovate and replace some of the business’ facilities, including new flooring and a new foyer.

The refurbished Olive Tree restaurant has created four full and part-time jobs, including a head chef from the local area, a business development manager, front of house manager and general manager.

Matt Smith, co-owner of The Olive Tree restaurant, said: “We’re excited to launch our new restaurant after weeks of renovation. Together, we will work closely with suppliers throughout Staffordshire to produce a consistent, seasonal menu that we hope our customers will love. I would like to thank HSBC UK and our relationship manager, Dan Pawar, who has supported our new venture throughout.”

Chris Millage, area director for direct business banking in Birmingham, HSBC UK, said: “In the Midlands, the food and drink industry is an extremely competitive market with a large number of independent businesses and the re-launch of The Olive Tree restaurant will help elevate the town’s food and drink offer. HSBC UK was delighted to support Matt and Yvonne as they embark on a new chapter. I wish them the best for the future.”

 

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