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Barburrito secures expansion funding from Rapid Realisations
The pair behind restaurant chain Barburrito is confident their business is recession proof following an expansion investment by Cenkos Fund Managers’ Rapid Realisations fund. The management team of Morgan Davies and Peter Kilpatrick retain a minority stake in the business but will be at the forefront of the expansion of the Mexican fast-food operation. “We have the first burrito bar in the UK, which is a new concept,” Davies told Insider. “And our price point is cheaper than our competitors, which makes us recession proof.” The new funding will enable Barburrito to expand on its two Manchester outlets – at Piccadilly Gardens and The Trafford Centre – taking the total to ten by the end of 2010. A new restaurant will open at the end of September in retail development Liverpool One.
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