Member Article

Barclays funding allows foodie couple to acquire Newcastle takeaway premises

Food retailers Sukhwinder and Parmajit Sandhu have acquired the premises of their Newcastle takeaway business, S&P Golden Fry, following funding from Barclays.

Opening their first retail outlet in West View, Lemington in 1990, the pair went on to launch a second shop in 1999 at Newton Road, also in Newcastle upon Tyne.

Following the local council’s decision to sell the leasehold premises earlier this year, the duo have now been able to purchase the shop with a commercial mortgage supported by Barclays.

Parmajit Sandhu, joint owner of S&P Golden Fry, said: “We have become renowned for the quality of our food and service and the cleanliness of our premises and so when the council said they would be putting the premises up for auction we feared for the future of the business.

“Having leased the premises for the last seventeen years and totally refurbished them to our high standards, we were shocked that we may lose the business.

“Fortunately we managed to agree a purchase price with the council and secure the future of the business. Barclays were amazing – helping us to liaise with the council and arranging the funding so we could complete on the deal.”

S&P Golden Fry now employs five staff locally and the couple are well known in the local community where they have fantastic support.

Stewart Blackett, Business Banking Manager at Barclays, said: “Earlier this year I did fear that this business would have to close if they lost their premises so it’s been fantastic that we’ve been able to help secure the future of this well run local business.

“It’s a pleasure supporting such dedicated and professional customers that are contributing to the local economy and are part of the local community.

“Small businesses are the life blood of the local economy and it’s important that we make sure they get the support they need when they invest for the future.”