Joe & The Juice opened eight new stores last year, growing turnover by 30%-40% year-on-year.

The Denmark-founded healthy juice brand said it was continuing to optimise its store network, and investing in digital initiatives such as its Joe App.

The brand has grown its UK estate to around 62 stores

Reporting historic results for 2021, during the period, the company opened six new stores, with the new openings having a positive impact and demonstrating “impressive results”.

Following a refinancing of the group, the company said its cash position was sufficient to support current operations and strategy initiatives in the UK, despite the negative equity in the company.

As of the end of 2021, Joe & The Juice UK Ltd had net liabilities of £16.6m, down from £18.6m in 2020.

Meanwhile £23.8m is owed to group undertakings.

During the period, the company said its digital initiatives resulted in “rapid growth” in the number of digital users and sales.

Its strategy is to continue to expand, with a focus on healthy food & beverage in attractive retail locations, with a digital platform that supports customer convenience and operational effectiveness.

In 2021, the UK business reported profit after tax of £1.5m (2020: loss of £4.8m)

Turnover was £27.3m (2020: £20.3m).