Bakery chain Gail’s is planning to open 40 new outlets, having created nearly 500 jobs during its most recent fiscal year.
The firm, headquartered in London, said all new locations will be operational by February 28, 2026, with similar expansion plans “going forward”.
The growth follows the opening of 36 new sites in the financial year ending February 2025 and an increase in its workforce to more than 4,000 people.
Recently submitted accounts to Companies House reveal that the chain’s revenue increased from £231.7m to £278m in the 12 months leading up to February 28, 2025, as reported by City AM.
Its wholesale revenue rose from £83.7m to £96.3m, while its retail earnings grew from £179m to £219.8m.
However, its pre-tax loss broadened from £7.4m to £7.8m over the same timeframe.
A spokesperson for Gail’s said: “We are pleased to have delivered strong year-on-year growth.
“This performance is underpinned by the increasing demand for high-quality, nutrient dense food, and by the support of the communities we serve.
“We will continue to build on this momentum by growing with purpose and remaining committed to improving access to good food.”
Gail’s is overseen by chairman Luke Johnson, chief executive Tom Molnar, restaurant investor Henry McGovern, and director Bradley Palmer.
The chain has been the subject of sales reports since March 2024 when it was reportedly valued at £200m.
The potential valuation then escalated to £500m as of December last year.
Bain Capital, the owner of Gail’s, was reported last month to have resumed its hunt for new investors in the bakery chain, with Goldman Sachs retained to explore options for the company.
A statement approved by the board read: “Over the year, trading was strong – with the group opening 36 new retail bakeries and continuing to see healthy growth in our established locations.
“Furthermore, the wholesale segment of the business continued to expand its large food service business – from its bakeries in London, Manchester and Bath, and due to the ongoing success of the brands produced and sold through several large UK supermarket businesses.
“The group continues to invest in new retail openings and will continue to expand in wider geographic areas within the UK.
“In addition to the retail space, investments in production capabilities were made in the year with more production lines continuing to move into the new central bakeries in Milton Keynes.”
