Ed’s Easy Diner, the Andrew Guy-led chain, believes there is potential to operate up to 150 sites in the UK.
The company, which yesterday announced it had secured a £9.5m increase to its existing bank facilities, saw turnover in the year to the end of September climb 49% to £26.25m and chairman Stephen Greene told The Times that he believes that by the end of next year sales on a “run rate” basis were likely to be more than £50m.
The company had previously stated that it hoped to reach 100 sites by the end of 2018.
The group has appointed corporate advisory firm McQueen to advise it on its financing options, with a sale process likely to start in earnest next year, by which the group hopes to have 50 sites in operation.
Ed’s has been accelerating the roll out of its diners since the beginning of this year, and currently has 31 restaurants, 10 of which have opened in the financial year to the end of September 2014.
The group said its site pipeline is very strong and well developed for next year. It is hoped that Ed’s will open around 20 restaurants over the next 15 months.
The company, which currently operates 26 sites under its core brand, will open its next site and first in Scotland at Fort Kinnaird, Edinburgh later this month.
