Thu, 11 Aug 2011 | BUSINESS SALE
The Scottish chain of restaurants under the Howies brand is being sold, with four restaurants in Edinburgh and one in Aberdeen being put on the market.
Entrepreneur Cameron McColl is offloading the business just four years after buying it from founder David Howie Scott in 2007, following a management buy-out worth £2 million. The branches are being sold as one lot for offers over £485,000 although bids for individual branches are being considered.
The chain first began as one outlet in St Leonard's Street, founded by Mr Scott. The success of that branch led to the opening of branches across the city and the establishment of an excellent reputation as a place to lunch in the Scottish capital.
It is thought that Mr McColl is looking to offload the business as he spends much of his time out of the UK and focusing on his enterprises in the technology and energy sector.
The Chairman of the Edinburgh Restaurateurs Association, Malcolm Duck, said the business was built on an excellent foundation, and had maintained its reputation since its first sale, making it a good prospect for a potential buyer.
"It is a well-known name, a good product and it is in good locations so I don't see why it can't be a brand that continues," he said. "It's a tough market but there are people looking at Edinburgh to come in. It's a hard place to be but if you do well you can do very well."
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