People & Business: Management buys Bean's
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CAPITAL RADIO has sold its American-style Henry J Bean's bar and grill chain to the chain's management, led by Douglas Smillie, for pounds 2.4m.
The media company intends to concentrate on its Radio Cafe and Havana restaurants. Mr Smillie, meanwhile, intends to expand the two Henry J Beans bars in the UK and the 18 franchises around the world, mostly in the Far East.
The original Henry J Bean's (But His Friends All Call Him Hank) Bar & Grill was opened in 1983 in London by the late Bob Payton, an entrepreneur from Chicago. Mr Payton virtually invented the American-style bar/restaurant in this country, and his holding company, My Kinda Town (MKT), also launched the Chicago Pizza Pie Factory, which introduced the deep pan pizza to the UK.
MKT also launched the Chicago Ribshack, a brand which failed to last the pace, and most of which have since been converted to Havana restaurants.
Mr Smillie joined MKT in 1984 as a management trainee, and now he's bought the company, with backing from Guinness Flight Venture Capital Trust, ElderStreet Investments and Downing Classic VCT. He says he is looking for new venues within two hours of London, as well as more in the Far East, where they have proved a hit when sited within large hotels.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments