The owners of Chopstix, the Asian fast-food chain, are planning an ambitious expansion that would more than quadruple the size of its UK business and launch overseas.
The British firm’s co-founder, Menashe Sadik, said he expected to expand from 73 outlets across the UK to between 300 and 400 over the next five years. He is also eyeing new sites in the Gulf and across Europe.
The expansion will be financed by profits reinvested into the business, owned by Sadik and co-founder Sam Elia, plus a financing facility from Metro Bank that was extended to about £8million in June.
Chopstix has sites on high streets, and in motorway service stations and train stations. Its four franchise partners include Welcome Break and Irish operator Applegreen.
It has 25 UK stores in the pipeline, in Scotland, London and East Anglia, after snapping up sites made available in the pandemic.
Sadik said its first overseas sites could be in Spain or the Benelux countries.
By HARRIET DENNYS, FINANCIAL MAIL ON SUNDAY
Source: This is Money