Wasabi, the sushi and bento chain, has secured a £30m revolving credit facility from HSBC to fund further growth and has appointed a new finance director.
Mark O’Mahoney joins the group from Carluccio’s, where he has been head of finance for the past three years. He previously worked for D&D London, EAT and Starbucks.
Wasabi secured a £25m facility from HSBC on October 2016, including a £20m three-year revolving credit facility.
The latest funding will help with the rollout of new Wasabi restaurants across London, the first of which will open in Russell Square this spring. Additionally, the funding will be used to help expand Wasabi’s Japanese and Korean bakery chain, Soboro, which it also plans to bring to the capital in 2018.
There will also be significant investment in Wasabi’s Central Processing Unit (CPU) in Park Royal, West London, where the company consolidated its warehouse and kitchen operations in 2016.
