Chopstix secures new £5m debt facility from Metro Bank

The brand also secured a £2m debt facility from the bank in 2018.

Noodle restaurant Chopstix secured a new £5m debt facility from Metro Bank and is now looking to expand its number of sites in shopping centres, high streets and travel hubs across the UK.

The new funding follows on from the £2m debt facility the company secured from the bank to support its expansion plans last year.

“The continuing support of Metro Bank further underlines the strides we are making at Chopstix in a challenging market. We will continue to look at opportunities to further grow our national reach over the coming 18 months,” Jon Lake, managing director of Chopstix Group, said.

Meanwhile, Mark Stokes, managing director commercial banking at Metro Bank, said: “We are delighted to have been able to support Chopstix with a sophisticated funding package as it continues to progress its nationwide expansion. We look forward to working with Chopstix over the years to come as it continues to make its mark in the fast food industry".

Chopstix, which also owns the Yangtze brand, currently operates currently close to 40 company-owned sites under its eponymous brand across the UK, and a number of franchise units.

The company has also appointed Mark Carrick as its new finance director and will join the business in October.