West Yorkshire fish and chips restaurant secures £1.1m HSBC funding

An established fish and chips restaurant in Wakefield has been bought with the support of a £1.1m funding package from HSBC UK.

Kingfisheries, a popular restaurant located in Calder Grove, Wakefield, has been purchased by Kurt McLoughlin, a local entrepreneur. The restaurant serves customers seven days a week from its 64-seat premises, as well as offering takeaway.

Following the purchase of the restaurant, Kurt plans to build on Kingfisher’s reputation for high-quality food and customer service and expects to see turnover increase by 25 per cent in the next 12 months.

Kingfisheries currently employs 32 members of staff and they have plans to increase its headcount to 40 over the next few years.

Kurt McLoughlin, director of Kingfisheries, said: “The funding from HSBC UK has been crucial to supporting me in purchasing the business and after a successful start to operations we are now looking to increase our turnover in the next 12 months, with anticipated growth expected in the Kingfisheries team.

“Due to HSBC UK’s support we are now looking to purchase another site in the future.”

The deal was part of HSBC UK’s £1.05bn lending fund to support SMEs in Yorkshire.

Chris Mangle, managing director of Custom Asset finance, said: “We are delighted to have introduced Kurt to HSBC UK.

“Working collaboratively with Steve Watson from Harris & Co and Duncan Shepherd from Wake Smith, the team at Custom Asset Finance were able to find the best financial offer for Kingfisheries.”