Picardy Place Steak Restaurant (PPSR) came to life in 2014, when entrepreneur Barrie Brown saw the potential for a high-end eatery in the centre of Edinburgh. Now a group of two extremely popular and award-winning restaurants, a themed bar and a boutique hotel, the business excels in providing premium steak sourced from local suppliers, in attractive surroundings.
Refinance & Working capital
In order to get his group of restaurants, hotel and bar to the level that he desired, owner Barrie Brown had a complicated array of financial arrangements, which became cumbersome and expensive. He approached the bank to see if they could help to simplify the situation, but was unable to win their support.
Barrie’s accountants got in touch with Neil Davidson at Alderburn Finance Solutions, who recommended ThinCats; said Neil: “I value ThinCats understanding of risk; they try to work out how the deal could be done, rather than look for reasons why it shouldn’t be done. This provides a far better analysis of the situation, and is a much fairer way of assessing the viability of a proposal.”
Within a few weeks PPSR was refinanced, resulting in a substantial reduction in costs for the company, and providing additional borrowing to expand and develop the businesses in line with Barrie’s impressive future plans.
I appreciate the fact that both Alderburn Finance and ThinCats took the time to understand the business, and the plans that I have for development; I have been able to focus on the future and it is looking very bright indeed.