Six by Nico Plans to Expand British and International Restaurant
Restaurant chain Six by Nico has revealed expansion plans after going back into the black last financial year.
The group, which has locations in Manchester and Liverpool, reported operating profit from continuing operations this year for the 12 months to June 2022 of £4.4million, following a loss of £600.000 in the previous 15 months.
"The plans we have developed to extend our network and broaden our offering in the UK and overseas are enormously exciting," Rob Wirszycz
With annual revenue of £30.8m until June 2022, the group is also working on plans for international expansion and hopes to open a new site in Dubai to house the rest of the workforce by the end of 2023.
"Nico's genius in coming up with the concept of fixed-price, six-course tasting menus that change every six weeks has struck a resounding chord with the dining public." Rob Wirszycz
Under the tutelage of CEO and founder Nico Simeone the group expects to open four new locations over the next 12 months and new bars and bakery projects in the first and second quarters of 2023.
Sixco Limited, the Glasgow-based group behind the Six by Nico network, said that it had served over 10.000 guests per week at 13 locations throughout the U.K. and Ireland and a turnover of £30.8 million for the year to June 2022, compared with £18.1 million for the previous 15-month period to June 2021.
Its ebitda from continuing activities was £5m, compared with a loss of £100.000 in the 15 months to June 2021.
An £11.5m financing facility has also been agreed with challenger bank ThinCats to bolster Sixco's expansion strategy.