One restaurant group that is getting support from its bank is Di Maggio’s. The Clydesdale Bank has agreed a £15 million funding package for the group’s property arm to help fund its expansion. The group is owned and operated by Mario Gizzi and Tony Conetta.
This month alone Gizzi and Conetta have opened two new outlets – Amarone in Edinburgh and The Barolo Grill in Glasgow. Future plans include the development of a US-style chop house in St Vincent Place in Glasgow by mid-2012. The funding was agreed as part of Clydesdale Bank’s Investing for Growth strategy, an initiative which helps successful businesses to grow.
Mario Gizzi, director of Di Maggio’s Group, commented: “Our strategy for the group going forward is to further enhance our property portfolio. Our decision to invest heavily in refurbishing one of our most popular Glasgow outlets and open another in a high profile Edinburgh location shows our confidence in the business and faith in the sector.”
The group currently turns over £18.8m, and employs 500 staff, this makes it the largest independent restaurant business in Scotland.