A SUNDERLAND brewery boss has outlined plans to expand his stable of pubs.
Castle Eden-based Wear Inns has seen its turnover rise from £11.75m to £13.4m in the last year – an increase of 14.5 per cent.
The company is planning to increase its estate of 26 pubs across the North East and Yorkshire.
Wear Inns reported total losses of £204,000 for 2014 due to the final consolidation costs of the 11 pubs it bought in 2012; an increase in depreciation charges of £197,693; the completion of work to refurbish all its pubs and investment in new kitchen equipment as the business looks to move further into the expanding food market.
Wear Inns has also made it on to the inaugural Investec Mid Market 100 list, ranking the fastest growing companies in the UK with a turnover of over £10 million.
It follows the London Stock Exchange highlighting the company in its report, 1,000 Companies to Inspire Britain, celebrating the country’s most dynamic and fastest-growing small and medium-sized businesses.
Managing director John Weir, from Sunderland, said: “Overall, we are very satisfied with the performance of the company over the year and look forward to further improvements in the year to March 31 2015.
“We have just completed the refurbishment of all the pubs, the last being The Porter Cottage in Sheffield, and we may be looking to buy around three pubs in the first quarter of 2015 and two later in the year.”
Wear Inns, which has its headquarters in the old offices of the Castle Eden Brewery in County Durham, is the biggest independent freehold managed operator in the region in terms of volume of beer sold.