The price is Wright for Walsall restaurants deal

TWO McDonald’s restaurants in Walsall have been acquired by new owners in a £2m deal funded out of the West Midlands.

The fast-food outlets are situated on Park Street in Walsall’s town centre and on Broadwalk Retail Park. They have been purchased by Wright Restaurants Ltd, a successful McDonald’s franchisee business which owns 10 other outlets across the Midlands.

The acquisition has been supported by a seven figure funding package from The Royal Bank of Scotland which includes a fee free loan under the Government-backed Funding for Lending Scheme.

The funding will help the new owners inject capital into the businesses with a planned investment into the Park Street outlet to coincide with a series of improvements currently taking place in that part of the town.

Douglas Wright, managing director of Wright Restaurants said:  “I am thrilled that the acquisition has been successful and that we have been able to take on the ownership of the Park Street and Broadwalk Retail Park McDonald’s franchises.  These latest acquisitions are part of my ongoing growth strategy to continue to expand the business and number of outlets we own and operate.

“Both restaurants are in excellent locations and benefit from high volumes of footfall which made them extremely attractive propositions.  We plan to carryout significant renovations to the Park Street branch, completely refitting it and including an exciting new McDonalds interior design which incorporates our latest digital technology for ordering, cooking and serving.

“I’d like to thank Jas and the team from RBS for their support, the funding from RBS has been excellent and without it I wouldn’t have been able to undertake the purchase and expand my chain of franchises.”

Jas Sandhu, relationship director at The Royal Bank of Scotland said: “We are really pleased that we have been able to support Wright Restaurants with these latest McDonald’s franchise acquisitions.  Douglas has built up an excellent portfolio of well-run and profitable McDonald’s outlets and is held in very high regard by the company.  

“The change in ownership of the Park Street restaurant also has real benefits for Walsall town centre, with significant improvements and investments being made into the area and we wish Douglas and his staff all the best with the new venture.”