Rex Restaurants reports 105% rise in turnover

Jeremy King and Chris Corbin, the men behind Rex Restaurants, has reported turnover across the company climbed 105% in just one year as they continue to expand the company’s presence in London.

The company, who currently operates 5 sites in London reported that for the year to 31 March 2013 the company’s aunnual turnover hit nearly £28.6m, compared to just under £14.7m the year before.

Within the period, the company opened two new sites, Brasserie Zele in London’s Sherwood Street which opened in June 2012 and Colbert in Sloane Square which launched in October 2012.

In April 2012, just a month into its financial year, Rex Restaurants secured new bank facilities in April 2012 and a £21.5m investment in equity and loan notes, backed by Graphite Capital.

March 2013 then marked the anniversary of the openings of the Delaunay in London's Aldwych, which has seen turnover increase 243%.

This year, the company is set to open its first hotel, the Beaumont on Balderton Street in Mayfair, which is expected to open in the summer. The company will then open a new cafe, called Fischer's, in Marylebone in spring 2014.