Banana Tree, the pan-Oriental restaurant operator, plans to open a further five to six sites over the next two years after securing a new £2m bank loan through Natwest.
The six-strong group, which is led by William and Anne Chow, is set to open its first site outside London this September in Watford’s Met Quarter and is understood to be close to securing a further unit outside the capital that would be the company’s largest so far.
It is thought that the group would like to open a further site in London, with Westfield Stratford a possibility. However, the majority of its expansion will take place outside the capital as it looks to grow awareness of the brand across the country.
The group is also keen to secure larger sites in which it would incorporate an improved bar offer, although it believes that is has the flexibility to operate across a number of different locations.
The company has previously received initial interest from a number of private equity groups, but has so far grown organically.
It opened a flagship central London site in 2011 after acquiring the former Itsu in Soho’s Wardour Street.
The company also operates restaurants in Angel, Bayswater, Clapham, Maida Vale and West Hampstead.
