Pho, the Vietnamese restaurant group run by Stephen and Juliette Wall, is set to make its debut in the South West, after lining up a site in Bristol, M&C understands.
The 17-strong brand, which is on track to post turnover of c£20m in its current financial year to the end of February, is understood to have secured a site in the city’s Clare Street, subject to planning, for an opening later this year.
The company, which will next open in Cambridge, is understood to have a couple of further sites in legals as it targets operating an estate of 30 restaurants over the next two to three years.
It saw turnover increase from £9.7m to £14.1m in the year to 28 February 2015, with group EBITDA increasing from £1m to £1.8m and restaurant EBITDA climbing to £3.2m (2014: £2.4m). It expects group EBITDA to grow by over 25% in the year to the end of February 2016.
Last year, it secured just over £8m of new funding from NatWest.
