Tonkotsu lines up site in new Shoreditch development

Tonkotsu has secured a site within a new office development in Shoreditch, for an autumn opening, MCA has learnt.

Managing director Stephen Evans told MCA it would be taking the rear quarter of the office block at 168 Shoreditch High Street, with H&M’s Weekday brand taking the front retail unit.

He said the operator was working with a new designer for the 80-cover site, which would sport a refreshed look. “We are trying to evolve the brand as we go. We wanted to experiment with a new design and get some fresh eyes on things,” said Evans.

Last autumn the ramen operator appointed advisors regarding future funding options, with YFM Equity Partners recently rumoured to have taken the lead in talks.

Evans told MCA that it was now in exclusive talks with its preferred partner and is going through due diligence process at the moment. It is also actively looking to appoint a chair person.

“It has been documented that YFM are the partners, but more will be revealed about what that looks like once the agreement is signed,” said Evans.

He said trading was good in the first quarter, with positive growth seen across its restaurants. “Q1 has always been a reasonably stable period for us, but trading is holding up, it’s quite encouraging actually,” he added.

Tonkotsu, which has nine sites in London and one in Birmingham, is to open its 10^th London site in Rye Lane in Peckham this summer.