Busaba to focus on London opportunities despite cost of living challenges

Thai restaurant chain Busaba will focus on London and the surrounding areas as its latest Lakeside Shopping Centre opening proves fruitful.

Busaba has eight sites in central London, and another in Kingston-Upon-Thames, as well as a site in the Lakeside Shopping Centre in Essex, which the company said is trading profitably with "sales above expectations".

The operator plans to continue exploring opportunities to expand the brand closer to London following Lakeside's success, after it was forced to close its Cardiff and Oxford sites last year to preserve cash and profit.

In its financial report for the year ended 17 September 2023, turnover stood at £21.1m, down from £21.2m in 2022.

Pre-tax losses narrowed from £3.1m in 2022 to £1.8m in 2023.

"Footfall in London has suffered from the cost of living impact on customers discretionary spend as well as the Summer-wide disruption caused by industrial action on train and tube networks.

"Continued focus on cost efficiencies has helped to mitigate a 50% increase in energy prices and a 9% increase in hourly rates of pay.

"We believe Busaba's much loved brand and product in prominent London locations means we are well placed to face the anticipated customer and market economic challenges ahead."

The chain was founded in 1999 by Hong Kong-born restaurateur Alan Yau.