THE son of the late Scots-Cypriot hotel magnate Sir Reo Stakis is to set up a British day care nursery franchise operation.
Evros Stakis, who will be president of Stakis Day Care Nurseries, said he is seeking to raise £150,000 under the UK government’s Seed Enterprise Investment Scheme and aims to open more than 80 franchised nurseries, including an unspecified number in Scotland.
Sir Reo ran his hotels business from its Glasgow HQ for many years.
Evros Stakis said his family’s philosophy had always been about very high standards of care in the hotel and residential care sectors.
“I see this development as an extension of that caring philosophy,” he added. Stakis Day Care Nurseries’ managing director, Hugh Furlong-Jones, said: “The market is worth £4 billion and is very fragmented with the top 40 private providers accounting for only 10 per cent of the places.”