Cornish Bakery bags eight-figure funding for next growth phase
Cornish Bakery has secured an eight-figure funding package to support its next phase of growth.
The money will be used to fund expansion and investment in its people, bakeries and customer experience. The business is also spending more than £1.6 million refurbishments this winter, and will open a new Guildford bakery on 25 November.
Subscribe to TRBThe deal with new banking partner HSBC follows five years in which Cornish Bakery has doubled its number of sites, quadrupled its profit and created jobs for 1,000 people.
This year, the company launched RISE by Cornish Bakery, its larger-format concept. The first site opened in Betws-y-Coed, followed by a two-storey, 3,500 square foot bakery at Gunwharf Quays in Portsmouth, its biggest to date.
Cornish Bakery said it is following what founder Steve Grocutt describes as an “anti-brand strategy”, with each new bakery individually designed to reflect the community it serves.
Mat Finch, managing director of Cornish Bakery, said, “Our next phase is about investing intelligently, finding brilliant locations and building bakeries that belong in their communities. We’re delighted to have HSBC UK’s support which will really help us to maximise our potential.”
