Almost 400 jobs created by The Alchemist as sales reach record high

Almost 400 jobs have been created by bar and restaurant chain The Alchemist as its sales jumped to a record high.

The Cheshire-headquartered company has reported a turnover of £54.5m for the 12 months to March 31, 2022, up from £16.6m in the year before. It also made a pre-tax profit of £1.7m after posting a loss of £7m in the prior 12 months.

The Alchemist has venues across the country, including in Manchester and at MediaCity.

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The figures have been revealed in newly-filed documents for its parent Buttercup Topco with Companies House.

The accounts also show it added 398 employees during the year to increase its headcount to 1,177.

A statement signed off by the board said: "Despite the start of the financial year being significantly impacted by the continuation of government-imposed restrictions, the business saw very strong financial performance as customer demand outstripped pre-Covid levels."

It added: "Trading levels have had a positive impact in cash terms, enabling the business to repay all Covid-related delayed payments to HMRC and other suppliers to reduce net debt and to deliver a very strong company balance sheet at year end.

"The business is now in a good position in partnership with out supportive debt and equity partners to support future openings and therefore growth."

The company has venues in London, Birmingham, Manchester, Liverpool, Cheltenham, Newcastle, Leeds, Portsmouth, Nottingham, Salford, Cardiff, Edinburgh and Oxford.

The Alchemist is backed by Palatine Private Equity.

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