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Graham & Sibbald Join Forces To Pledge Growth

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Graham & Sibbald Join Forces To Pledge Growth

Graham & Sibbald Join Forces To Pledge Growth
October 30
07:58 2023

Graham and Sibbald have joined forces with Cumberland Building Society, Harper Macleod LLP and EQ Accountants LLP to offer their insights for hospitality businesses across Scotland.

Peter Seymour, a director in hotels and leisure at Graham and Sibbald (pictured), said: ‘One of the major issues facing valuations are the long-term ramifications of inflation within the sector.

‘Food and drink prices, utility rates and staffing costs are all affecting the bottom-line profitability of hotels and leisure businesses. And while the industry continues to face numerous challenges, opportunities remain for businesses to expand and thrive.’

Multiple hospitality businesses have closed in Scotland in the last three years as a result of the
pandemic and other issues. Experts suggest this will allow businesses surviving the
challenging economic climate to make acquisitions at more favourable prices and maximise
growth opportunities.
Jacqui Fraser, a partner in the banking and finance team at law firm Harper Macleod LLP, added: ‘There is an increasing number of business owners who are closing their premises as a result of increased costs, including energy and rising ingredients prices. For business owners who are looking to expand, there are increasing numbers of enterprises available to purchase at competitive prices.’

Whilst more than half of Scotland’s hospitality businesses are still in ‘survival mode’,
according to findings from the Scottish Tourism Alliance, for those who are seeking to capitalise
on these industry losses, Scott Greig, Partner and Head of EQ Leisure at EQ Accountants, urges
businesses to be fully prepared before embarking on expansion plans.

‘Unfortunately, not every deal results in a positive outcome. More often than not, it is
down to not undertaking sufficient due diligence ahead of making an offer or not bringing in the
appropriate advisors early enough to help structure the deal in the best way.’

‘Banks and building societies require more information than ever before, including non-financial
information, depending on the size of the deal. Some business owners may be reluctant to pay
advice fees upfront and this can be more costly in the long term if deals need to be
subsequently restructured.’

Alasdair Swan, Senior Commercial Manager at specialist hospitality lenders, The Cumberland
Building Society, echoes Scott’s sentiments: ‘There are a great deal of opportunities out
there for businesses to capitalise on but they need to ensure they have consulted
relevant advisors before embarking on any significant expansions.

‘The Cumberland is well positioned to help businesses achieve their ambitions, thanks to our
commitment to supporting the hospitality sector, especially in Scotland. Our relationship managers take the time to get to know you and your business, and our manual underwriting process ensures that
every mortgage application is considered by a real person, not a computer.’

For more information on the collaboration between Graham & Sibbald and other industry specialists, visit

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Catering Scotland

Catering Scotland

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