Red Hot World Buffet (RHWB), the buffet restaurant operator, is thought to have appointed BDO LLP to advise on its investment options for future growth. M&C Report understands that up to four private equity groups are currently vying to invest in the seven-strong company, which is run by husband and wife team Parmjit and Helen Dhaliwal. It is thought that Risk Capital Partners, Lloyds Development Capital (LDC) and Bowmark Capital are included in the shortlist of suitors. It is believed that a deal would value the group at £40m-£50m. RHWB, which was founded in 2004, opened its sixth in Manchester in June. The 5,000sqft buffet is thought to be the largest in Europe. The group recently invested £1.8m in opening a 10,274sq ft unit in Cardiff’s St Davids 2 shopping centre, while a 16,000sq ft prime site in Nottingham leisure park The Corner House will open early next year. It is also thought to be in legals over a 17,000sq ft site in Leicester and is understood to be considering a large new-build site in Essex for its first venue in the south of England. It is thought that the new investment would allow the concept to expand by a further 18 sites over the next three years. The Dhaliwal’s believe there is potential for up to 75-80 sites nationwide. The group previously said that it would only consider sites that had the potential to generate at least £5m in turnover per year. The company’s revenue in 2010 stood at close to £10m, which it expects to more than double this year.