ao link

You are viewing 1 of your 2 articles

To continue reading register for free, or if you’re already a member login

 

Register  Login

Japanese chain Wasabi secures £30m investment for expansion

Japanese-style grab-and-go chain Wasabi has secured a £30m investment from HSBC to support its expansion plans.

 

The funding will support the roll-out of new Wasabi restaurants across London, with the first opening in Russell Square this spring, as well as allowing the expansion of the brand's Japanese and Korean bakery, Soboro.

 

Investment will also help improve productivity at Wasabi's warehouse and kitchen operations site in West London.

 

Frederic Lluch, Wasabi managing director, said: "Continuing to drive expansion is top of our agenda and with HSBC's support, led by our relationship director Chris Priest, the new financial year will see us increase the presence of both our brands in London. We'll also be looking to build on our strategic partnerships as well as continuing to look at operational advancements."

 

Nick Hicks, HSBC's area director for Sussex & Surrey corporate banking centre, said: "We have forged a good relationship with the Wasabi team, supporting the company's growth both here and in the US over the last few years. We've been able to draw on our global expertise to put a competitive and tailored finance package in place which we hope will help the business continue to realise its future expansion plans."

 

Last month The Caterer reported Wasabi had asked existing landlords to alter rent payment agreements as it pursued expansion.

 

The chain, which launched in 2003 and has 51 stand-alone outlets as well as concessions in five branches of Marks & Spencer, sought to switch to monthly payment schemes.

 

Wasabi seeks rent payment changes to aid expansion bid>>

 

Wasabi to trial sushi counters in M&S stores>>

 

Wasabi to open Asian-inspired bakery Soboro>>

 

Videos from The Caterer archives

 

 

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

Hotel Cateys

Hotel Cateys

Best Places to Work in Hospitality 2025

Best Places to Work in Hospitality 2025

Queen's Awards for Enterprise

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

Jacobs Media

Jacobs Media is a company registered in England and Wales, company number 08713328. 3rd Floor, 52 Grosvenor Gardens, London SW1W 0AU.
© 2024 Jacobs Media