Chopstix secures £5 million from Metro Bank as it eyes further expansion

Chopstix Noodle Bar island unit

Asian themed quick service restaurant chain Chopstix has secured a £5 million debt facility from Metro Bank, allowing for further expansion.

It follows the £2 million bank facility that had been secured from Metro Bank last year, and will see the brand aim to build on its 40-strong estate.

The chain has been expanding rapidly in 2019, with new sites having been opened in Intu Nottingham, Birmingham, Bristol Cribbs Causeway, Glasgow and Earls Court since the turn of the year.

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Meanwhile, the chain has also appointed Mark Carrick as it new finance director, effective from October.

He joins from the Comptoir Group, where he has served as chief financial officer since July 2018, whilst also having previously held positions at several leading hospitality operators.

Jon Lake, managing director of Chopstix Group said: “The continuing support of Metro Bank further underlines the strides we are making at Chopstix in a challenging market.

“We will continue to look at opportunities to further grow our national reach over the coming 18 months. We are of course sad to see Michael leave, and thank him for his contribution to Chopstix over the last year and a half.

“At the same time, it is great that we are welcoming Mark to the team. With his experience added to the existing management team and new debt facility in place, Chopstix is in a good place to further grow over the coming few years and cement its place as the UK’s leading Asian QSR brand.”

Mark Stokes, managing director of commercial banking at Metro Bank, added: “We are delighted to have been able to support Chopstix with a sophisticated funding package as it continues to progress its nationwide expansion.

“We look forward to working with Chopstix over the years to come as it continues to make its mark in the fast food industry.”

Tags : ChopstixMetro Bank
Patrick Cremona

The author Patrick Cremona

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