Member Article

Italian restaurant group creates 20 jobs at new Skipton venue

The owner of a Yorkshire italian restaurant has acquired a second venue, creating 20 new jobs in the process.

22 The Square, was originally launched in Northowram in Halifax in 2009 by Raj Panesar and his wife. After establishing the business over the past six years, Raj saw an opportunity to branch out and transfer the restaurant’s success to a new location.

Raj and his business partner, Anthony Bickers, identified the former Bella Napoli restaurant in Cross Hills, Skipton, as the ideal site for its expansion and approached long-term banking partner, Lloyds Bank, to support the purchase.

The bank provided a six-figure mortgage and commercial loan to enable Raj to acquire the business.

It also offered a £90,000 development overdraft to support the cost of the refurbishment which included a complete fit-out of the interiors as well as renovating the former laundry room into a jazz wine bar.

The new restaurant, also named 22 The Square, is due to open to the public on 12 November and will seat approximately 130 people, making it one of the largest restaurants in North Yorkshire. The restaurant has also recruited 20 members of staff from the local area.

Commenting on the purchase, Raj Panesar said: “We’re looking forward to opening a new restaurant in Yorkshire and offering people in Cross Hills and its surrounding areas, the locally sourced, fine food we’ve become renowned for.

“We’re already fully booked for November and December, with bookings still coming in for the New Year.

“The support of Lloyds Bank has been integral in enabling us to take this next step, which forms part of a wider plan to open five further restaurants over the next five years.”

Ian Whitworth, relationship manager at Lloyds Bank Commercial Banking, said: “22 The Square is an ambitious business with a firm vision for long-term growth, and Raj and his team have done a brilliant job in creating a high-profile establishment for the local community to enjoy.

“We work closely with all our commercial customers to ensure that we’re able to support their growth ambitions, like the opening of this second restaurant, and have pledged to grow our net lending to SME customers by £1billion year until 2017.”

This was posted in Bdaily's Members' News section by Ellen Forster .