Itsu secures £40m to boost expansion

Healthy Asian eatery chain, Itsu has secured funding from HSBC worth £40m to expand its fast-casual stores portfolio to 60 outlets.

The company's sites are situated mainly in London and the South East, but there are plans to open branches abroad in the next three years.

Itsu currently operates two restaurants in Chelsea and Notting Hill, and around 50 fast-casual stores across London, plus sites in Oxford, Brighton and Cambridge.

Landen Prescott-Brann, Chief Financial Officer, said, “We see a lot of opportunity in the healthy-food market both here in the UK, outside of London, and internationally. Consumers increasingly want healthy food options while on-the-go – and we can provide this.

“We are grateful to HSBC for its support of our ambitious expansion plans. It is important to us to have a partner that believes in our vision. The refinancing package is vital for our company’s continued success in the future, and our ability to reach new customers.”

Amanda Murphy, HSBC’s UK Head of Corporate Banking, said, “itsu is a dynamic fast-food retailer with high growth prospects, a respected brand and ambitious goals.

'We are proud to be able to support them with their international expansion plans. As one of the largest international banks, we are confident in our ability to help itsu enter new markets and look forward to continuing our long-standing relationship.”