QSR chain Chopstix secures loan from Metro Bank

13th August 2018 (Last Updated August 13th, 2018 14:56)

British quick-service restaurant chain Chopstix has secured a £2m debt facility from Metro Bank to support its expansion programme across the country.

QSR chain Chopstix secures loan from Metro Bank
Chopstix secures a £2m loan to support its expansion programme. Credit: Chopstix Group.

British quick-service restaurant chain Chopstix has secured a £2m debt facility from Metro Bank to support its expansion programme across the country.

Metro Bank also offered a £3m loan to the QSR chain in a move to assist it with acquiring Belfast-based noodle bar Yangtze last year.

Metro Bank commercial banking managing director Mark Stokes said: “Chopstix is marking its territory as a strong-performing business in the fast food market, and we’re thrilled to be on this journey with the company.

“Our customer-focused service combined with our extensive industry knowledge has enabled us to create another tailor-made funding solution, which will take Chopstix to the next stage of their growth ambitions.

“The large commercial team was able to meet our needs and understand the group’s vision to provide more communities with the Chopstix experience.”

“We look forward to supporting their future strategic plans with additional resources over the years to come.”

Chopstix co-founders Sam Elia and Menashe Sadik said: “Metro Bank provided the team with an excellent service when we acquired the Yangtze business last year, and they have continued to show the same level of enthusiasm with our latest funding package.

“Through speed and ease, the large commercial team was able to meet our needs and understand the group’s vision to provide more communities with the Chopstix experience.”

Founded in 2004, Chopstix currently operates more than 80 restaurants across the UK and the Republic of Ireland.

The noodle bar chain offers Asian cuisine in food courts, motorway services and high street locations.