Kids’ Planet set for expansion
Kids’ Planet has received a £250,000 cash injection so it can open more of its children’s play centres.
The company, set up in 2003, has received funding from the Capital Fund and now plans to open more of its ‘Jack and Lulu’ sites in the UK.
The company’s aim is to provide sites which will help parents to spend quality time with their children.
Kids’ Planet already has two centres in operation, both in North London, which offer play and party facilities as well fresh food and refreshments.
It has now identified a further 20 sites where it feels there is a market for its services.
Neal Fullman, managing director of Kids’ Planet, said: “Among other development plans, The Capital Fund’s investment has allowed us to finish and open Jack and Lulu’s, on the site of the old Jack Straw’s Castle pub.
“We’re hoping to expand to a further two sites in the coming 12 months – and thereafter our plans are for a substantial development of between five and 10 centres a year.
Stuart Nicol, investment manager at The Capital Fund, said: “There is clearly a significant market opportunity for Kids’ Planet and the Jack & Lulu’s format, and we’re very happy to be able to help take the business forward.
“I look forward to continuing to work with Neal and his colleagues as the company continues its rapid progress.”
© Crimson Business Ltd. 2007