Harry Ramsden’s, the operator of 29 well known fish and chip shops, is in talks with a number of franchises and a major pub group which could see the company undergo a major expansion programme.
It is understood that the company is in discussion with a FTSE250 company with a managed and leased estate over licensing the brand for its leased division. Meanwhile, the company is also understood to be close to signing a franchisee for the Yorkshire territory with a view to opening 50 sites over five years.
The news comes as the company, which was founded in 1928, re-opens its flagship Bournemouth site which has undergone a £1m refurbishment and now boosts 417 covers making it the largest fish and chip takeaway shop in the world. The site now has a more modern feel to it but also retains some of its traditional features. It is expected to take £200,000 a week net of VAT.
Harry Ramsden’s is currently owned by Ranjit Singh Boparan of the Boparan Group, who also owns Two Sisters Food Group and Northern Foods, the company is expected to deliver a positive contribution this year after a short period of turnaround since the Boparan purchased the company.
In the year to 1 January 2012, Harry Ramsden’s reported it had disposed of six sites at a cost of £1,160,000 but removing losses incurred at the sites in 2011 of £1,150,000. This is expected to mean the company moves to profitability this year. Turnover decreased to £15,707,934 from £18,879,874 the year before. The company made a loss before tax of £2,129,019, up from £1,471,958 the year before.
Harry Ramsden’s currently has just three sites run by franchisees – one in Brighton, one in Inverness and a third in Euston train station, run by SSP.