Cornish Bakery, a rapidly expanding bakery chain in the UK, has secured a funding package from Virgin Money to fuel its ambitious growth plans. Founded in Mevagissey, Cornwall in 1987 by Steve Grocutt, the company has grown to operate over 60 locations nationwide, employing more than 630 staff members.
Known for its artisan-quality food offerings, which include handmade Cornish pasties and ethically sourced coffee from Union Coffee, Cornish Bakery has carved a niche with its diverse and creative pastry selection.
With the backing of Virgin Money, Cornish Bakery aims to double its presence by opening new stores in the East Midlands, the South West, and Nottinghamshire. Additionally, the company plans to refurbish existing stores in St Ives and throughout the Lake District.
Ralf Goad, Finance Director of Cornish Bakery, expressed enthusiasm about the partnership with Virgin Money, highlighting their shared commitment to expanding and enhancing the brand’s footprint in the market. He emphasized their goal of significantly scaling the business in the coming years, positioning Cornish Bakery as a leader in the bakery sector.
David Burgess, Business Development Director at Virgin Money, underscored the bank’s longstanding relationship with Cornish Bakery and praised the company’s reputation for quality and customer satisfaction. He affirmed Virgin Money’s support in providing a tailored cashflow finance package to aid Cornish Bakery in achieving its growth objectives.
The funding from Virgin Money not only supports Cornish Bakery’s expansion plans but also aims to create job opportunities and contribute to the local economies in the areas where it operates. The collaboration reflects a strategic effort to bolster growth and innovation within the bakery industry.
In conclusion, Cornish Bakery’s partnership with Virgin Money marks a pivotal moment in its journey towards broader market presence and continued success in delivering quality baked goods across the UK.