Bombay Bicycle owner to sell off 10 outlets across UK

Wed, 15 Dec 2010

The owner of the Indian food chain Bombay Bicycle has announced plans to sell the majority of the branches across London.

International Indian food company V8 Gourmet has instructed estate agent Cedar Dean Gilmarc to sell off 10 of the leasehold outlets.

This mass sale would leave the brand with only a few remaining outlets. Rents on the properties - which are located in Chelsea, Greenwich, Barnet, Hampstead, St Paul's, Kennington, Surbiton, Weybridge, Twickenham and the West Midlands - range from £18,000 per year to £175,000.

Two of the outlets – in Hampstead and Greenwich – are rumoured to be under offer already.

News of the sell off comes just two years after V8 Gourmet purchased the Bombay Bicycle chain from its administrators. They were assisted in the funding of the purchase by Indian actress and one-time Big Brother star, Shilpa Shetty.

At the time of purchase, V8 planned to increase the number of outlets across the country to 35, more than doubling the chain's presence. The group also owns Tiffinbites, which offers 'fast, funky and authentic Indian food,' from locations across the UK.

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