Banana Tree, the pan-Oriental restaurant operator, is set to embark on its next stage of development with the opening of its first site outside of London.
The six-strong group, which is led William Chow, has secured a unit next to Chimichanga in Watford’s Met Quarter with an opening planned for September.
The company is also believed to be close to securing a new bank facility to underpin its next stage of growth. It is also understood to be close to acquiring a further regional unit.
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.
It recently completed the refurbishment and rebrand of its existing estate.
