North-east catering jobs increase through Principle ventures

Catering jobs will be created by a north-east restaurant group’s ventures to invest in a new restaurant as well as in events.

Principle Leisure recently rebranded from Aquaclear and spent £330,000 on a new venue in Guisborough’s Westgate in the Tees Valley.

According to the Middlesbrough Evening Gazette, their latest acquisition will be operated in a partnership due to the current situation with banks and lending.

Stuart Young, MD of Principle Leisure told the newspaper: “We knew it would be unlikely that they would fund a development like this in the way they would have done a year or two ago, so we have gone for the option of equity partners rather than battle to the death with banks to get the money."

The company’s outdoor events endeavour will create new jobs and will also expand their target market.

“The new events division adds another string to our bow," Young commented.

“We are looking to move our production to a trading site with storage, distribution, production and perhaps a retail unit for restaurant quality food for those working on the estate,” he added.

Principle Leisure is the company behind successes such as Popolo, Blue Coyote and San Lorenzo in Tyneside.