Banyan Bar to open in Leeds

LEEDS city centre is set to welcome a Banyan Bar and Kitchen when it opens its doors next month,  creating around 40 jobs.

Bar and restaurant operator Arc Inspirations, based in Leeds, has secured £1.5m in funding from Santander Corporate & Commercial.

Established in 1999 by founders Chris Ure and Martin Wolstencroft, Arc Inspirations now owns and operates 13 bars throughout Yorkshire and the North West, employing more than 550 people.

Arc Inspirations plans to continue to expand at a rate of two sites per year with the aim of reaching 20 sites over the next three to five years.

Turnover is forecast to increase by 27% to £24m this financial year following the success of the Banyan Bar and Kitchen-branded sites recently opened in Manchester, Harrogate and York.

Chris Ure, chairman of Arc Inspirations, said: “We are pleased to continue our relationship with Santander which has helped us with recent new openings of Banyan Bar and Kitchen in Manchester and Manahatta in Leeds, as well as the refurbishment of our Banyan Bar and Kitchen in Harrogate. The business is going from strength to strength and we are very excited for our next new opening in City Square Leeds this spring.”

Tavia Sparks, relationship director for Santander Corporate & Commercial, said: “Arc is a valued customer and one of the UK’s leading independent bar and restaurant operator and we are delighted to support their continued growth plans. Santander Growth Capital funding is a unique funding solution to help management teams achieve their expansion plans.”