Heineken helps fund £2.7m Liverpool restaurant

Global drinks brands Heineken and Bacardi were among a number of funders who backed a new £2.7m restaurant in Liverpool. Tony McDonough reports

Zenn Liverpool
From left, Tibu Pinedo and Gavin Skeoch, Movement Group, with Paul Trickett and Gordon Andrews of Bathgate. Picture by Harry Flook

 

A new £2.7m restaurant in Liverpool was backed by drinks brands Heineken and Bacardi and owners had to secure a final £200,000 injection to ensure it opened on time.

Movement Group opened Zenn Liverpool, in Victoria Street in the city centre  on June 17. The 350-seat venue offers a rooftop zone with an in-house DJ. It offers diners an Asian-inspired menu.

Ahead of the opening Movement has secured £2.5m of capital investment. This came from shareholding directors and from Heineken and Bacardi. However, as the launch approached the project needed an extra £200,000 to get it over the line.

This was provided by Wirral business finance specialist Bathgate Business Finance. It provided a five-year asset finance deal arranged following a professional introduction.

Cat Roberts, group head of business development at Movement Group, said: “We faced a huge challenge with building supplies and project management.

“COVID-19 lockdowns and then subsequent materials shortages strained complex and intricate supply chains and caused problems in the project management time frame.

“Bathgate was recommended to us by an associate. We found the company to be very knowledgeable about the hospitality sector.’

READ MORE: Bathgate adds two board members

Movement worked with Paul Trickett, business development manager at Bathgate to plug the funding gap. Paul added: “Securing finance for hospitality venues in the current climate can be difficult. Traditional lenders have limited appetite or options for businesses in this sector.

“Projects also face project management challenges due to materials shortages and supply chain issues that can delay projects and stretch budgets. However, as our latest deal shows it is far from impossible.”

Zenn has already attracted the head chef from Australasia Manchester. And the team travelled to destinations around the world to find inspiration from their favourite places and venues.

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