Mowgli Street Food retains a “fundamental belief in the dining out market” and continues to plan for new openings in 2021.

The 11-strong business has previously outlined plans to open in Glasgow, Edinburgh, Cheshire Oaks and Bristol.

In accounts for the year to 31 July 2020, the Nisha Katona-led Indian restaurant business said it maintains a strong financial position having secured £2m from CBILS in June 2020.

Last year the company drew £900,000 from an existing NatWest bank facility to part fund new openings.

In the accounts, Mowgli posted a loss of £1.15m, due to the impact of enforced closures.

Turnover was down £700,000 to £11.3m. Adjusted EBITDA declined by £1.2m to £500,000.

The company said it retains strong support and a strong relationship with shareholders and bankers, with cashflow modelling showing it can weather various scenarios in 2021 and beyond.

Topics