Itsu, the Japanese sushi bar chain, has secured a £14m finance deal through HSBC that will see it look to add over 20 new sites to its current 40-strong estate in London.
The chain, which was founded by Julian Metcalfe and is led by Gerard Loughran, said that the new funding would fund expansion over the next three years and create 350 jobs.
The group hopes to open up to 10 units in the capital this year and is predicting annual turnover of £55m by the end of 2013.
It currently operates 38 smaller format sites across the capital, plus two larger restaurants. It has talked previously of a five year plan, which would include it opening in shopping centres and two overseas territories.
Mark Frettingham, head of corporate banking for southern England at HSBC, said: “HSBC is delighted to be supporting Itsu and its strong management team. They are putting significant energy into seeking out exciting opportunities for expansion without compromising their principles.”
The chain is currently looking for a creative agency ahead of its first advertising and marketing campaign.
