Trispan-backed Rosa’s Thai has said it expects to open five to six new sites each year, while also pursuing opportunities to operate delivery-only cloud kitchens as it continues with its expansion plans.
The business, which has just published its accounts for the 52 weeks to 29 March 2020, said it expects around half of these sites to be in London, and half outside “with previous openings in Liverpool and Leeds showing that the concept is well-received outside London”.
During the periods of lockdown over the past 12 months, business said it had operated more than half of its estate with delivery and takeaway, “generating significant revenues and remaining cash generative”. It said that as a result of this Rosa’s has not been forced to take on emergency debt in order to support its operations which means its ambition to significantly grow the estate “remains intact”.
However it said the changes in trading patterns and splits between eat-in and delivery, during this period and forward looking, may force the group to re-evaluate the viability of some sites and the rent each site is able to carry.
During the year to 29 March 2020, the business opened three new sites, in Trinity Centre in Leeds, Clapham and Deansgate, Manchester, and has recently announced it will be joining the line-up at Birmingham’s Paradise project – its fourth site outside London.
Opening in Two Chamberlain Square the restaurant will have capacity for 80 guests and will operate for lunch and dinner seven days a week when the building is completed later this year.
Over the 52 weeks to 29 March 2020, Rosa’s generated £19.6m in sales, up from £16m in 2019, while EBITDA dipped slightly to just under £2m.
Rosa’s opened its first cloud kitchen in Crouch End after the year end, which was followed by sites in Blackwall and Reading.
Rosa’s Thai plans five to six per year
Trispan-backed Rosa’s Thai has said it expects to open five to six new sites each year, while also pursuing opportunities to operate delivery-only cloud kitchens as it continues with its expansion plans.The business, which has just published its accounts for the 52 weeks to 29 March 2020, said it expects around half of these sites to be in London. Rosa’s said that the “significant reveues” generated through delivery and takeaway offerings during lockdown had meant it had remained cash generative and had not been forced to take on any emergency debt, but it hinted it would be reviewing the viability of some of its sites.