A Lancashire-based Italian restaurant group has set its sights on boosting turnover at its flagship restaurant by 20 per cent after expanding for the third time, with the support of a seven-figure funding package from Lloyds Bank Commercial Banking.
The expansion of The Italian Orchard, located in Broughton, Preston, was unveiled this month following six months of construction work and forms part of a sustained period of growth across the San Marco Group’s property portfolio.
The 500 sq m extension, which features a newly-built bar area and retractable glass roof, will see the popular family restaurant boost capacity by 50 covers a night. As a result, the group is set to hire 10 new members of staff in the coming months.
Part of the tailored funding package from Lloyds Bank has also been used to revamp the previously unused top floor of Stratos, a Preston city centre restaurant owned by the San Marco Group. The space has been converted into 17 self-contained apartments, which will be used for staff accommodation.
Carlo Bragagnini, Director at San Marco Group, said: “Over the last four decades, San Marco has grown from one small, family-run restaurant into an established and highly regarded chain of bars and restaurants.
“When the chance to expand the existing premises at The Italian Orchard arose, we immediately recognised the potential to not only satisfy increasing demand but also to implement plans for future growth.
“The move gives us the financial strength to accelerate future planned projects, which include creating a new manufacturing facility that will begin supplying fresh pasta to our restaurants later this year.
“The team at Lloyds Bank has been by our side throughout the process, providing the guidance we needed to plan and deliver these ambitious projects simultaneously.”
Garry Birchall, relationship director at Lloyds Bank Commercial Banking, said: “The San Marco Group is an example of a dynamic business that refuses to stand still.
“Thanks to the ambition and drive of the Bragagnini family and its management team, the restaurant has cultivated a popular brand that will ensure it continues to prosper with each new venture.
“We’re proud to provide the tailored funding that firms like the San Marco Group need as part of our plan to Help Britain Prosper, which is why we’ve pledged to provide £1.3billion to businesses in the North West this year.”
(L-R) Garry Birchall, Stefano Bragagnini, Louise Bragagnini, Ivan Bragagnini, Carlo Bragagnini