Funding secures future of 64-seat restaurant

A long-established fish and chips restaurant in Wakefield has been bought with the support of a £1.1m funding package from HSBC UK.

Kingfisheries, in Calder Grove, has been purchased by Kurt McLoughlin, a local entrepreneur. The restaurant serves customers seven-days-a-week from its 64-seat premises, as well as offering takeaway.

Following the purchase of the restaurant, Kurt plans to build on Kingfisher’s reputation for high quality food and customer service and expects to see turnover increase by 25% in the next 12 months.

Kingfisheries currently employs 32 members of staff and plans to increase its headcount to 40 over the next few years.

McLoughlin said: “The funding from HSBC UK has been crucial to supporting me in purchasing the business and after a successful start to operations we are now looking to increase our turnover in the next 12 months, with anticipated growth expected in the Kingfisheries team.

“Due to HSBC UK’s support we are now looking to purchase another site in the future.”

Chris Mangle, managing director of custom asset finance, said: “We are delighted to have introduced Kurt to HSBC UK.

“Working collaboratively with Steve Watson from Harris & Co and Duncan Shepherd from Wake Smith, the team at Custom Asset Finance were able to find the best financial offer for Kingfisheries.”

Ryan Slater, relationship manager for South & East Yorkshire, HSBC UK, added: “We are delighted to support Kurt with his purchase of such a popular fish and chip shop restaurant, and we believe that will be a huge success with continued growth for many years to come.”

The deal was part of HSBC UK’s £1.05bn lending fund to support small and medium-sized enterprises (SMEs) in Yorkshire.