Pho owners consider sale to fund new openings

The private equity investors behind Vietnamese chain Pho are considering selling the business to fund further openings.

According to the Sunday Telegraph Gresham House, which bought the fund that controls Pho from Livingbridge last year, is now keen to sell the business in order to raise the cash for new sites.

In its latest financial results, which reported like-for-like sales up 5.4% and turnover up 12.8% to £34.4m, Pho said that "such a roll out plan is not considered to be a risk to the business as sites will not be opened if it is thought they would cause any unnecessary strain on the current estate".

Pho was launched by Stephen and Juliette Wall in 2005. It now has 29 restaurants across the country.