Busaba Eathai – the casual dining chain founded by Alan Yau – is set to exploit the on-going economic downturn to aid its expansion plans.
In June this year, Phoenix Equity Partners revealed it had invested £21.5m in the Thai restaurant chain to support ambitious rollout plans of between 20- to 30 restaurants in the next five years.
As yet, the restaurant group's portfolio, has not been expanded. But according to David Burns, of Phoenix Equity Partners, it is only a matter of time before Busab Eathai secures another restaurant.
He told M&C Report: “We are still looking for new sites. We came perilously close to completing on one but it wasn't to be.
“The good thing is that the company has no debt and is well funded. We see the economic downturn as working to our advantage in that respect and are confident we will have an announcement soon on some new sites.”
Restaurateur Yau opened the first Busaba Eathai on Wardour Street in 1999 and since then has opened two further sites in London’s West End.
Yau, who is also the founder of Hakkasan, Yauatcha, Wagamama and launched Sake No Hana and Cha Cha Moon, remains as a director and major shareholder of the venture.
