Giggling Squid aims for 10 new sites in 12 months
Thai restaurant group Giggling Squid aims to add another 10 sites to its portfolio over the next 12 months.
The news follows a recent investment from the Business Growth Fund and a new £8m bank facility with Barclays.
Giggling Squid, owned by Andy and Pranee Laurillard, currently has 15 restaurants in the South.
In addition to sites in Norwich, Berkhamsted, Warwick and Farnham already in fit-out the business has recently acquired sites in Brentwood, Wokingham, Windsor, Bath and will be extending its Guildford restaurant.
The business is in negotiations for several other properties in and around the M25 which are expected to complete in the coming weeks.
Commenting on the news, Pranee Laurillard said: "These are very exciting times for the Giggling Squid team. We are opening in some lovely buildings in some lovely towns. I am really looking forward to bringing our amazingly delicious Thai cooking to more lucky people across the country."
The business has also appointed Mike O'Mahoney as its new chief financial officer. Managing director Andy Laurillard said: "Mike's a great guy with tons of experience and is the right person to help us steer the finances through this period of rapid growth and to work closely with operations director, Peter Morrison, and his team to get the best from the business as it expands."
Mike O'Mahoney added: "I am delighted to be joining Giggling Squid. It's a great business with great people. With really strong like-for-like growth, improving margins and an awesome pipeline, Giggling Squid is well positioned to achieve its goal of becoming the first fully national Thai restaurant operation."
O'Mahoney is a chartered accountant and finance director with over 20 years' experience in the hospitality and leisure industry. Prior to Giggling Squid, he held CFO positions at De Vere, the Hotel Collection, Thistle Hotels and Little Chef Restaurants.
Giggling Squid receives funding of £6.4m to expand brand to up to 70 sites >>
Giggling Squid to open Farnham restaurant >>The Caterer Interview: Andrew Laurillard >>
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