Tossed secures £1.5m bank funding to support expansion

By Peter Ruddick

- Last updated on GMT

Related tags: Private equity firm, Management, Finance

Tossed, the healthy-eating restaurant chain, has secured £1.5m of new bank funding
Tossed, the healthy-eating restaurant chain, has secured £1.5m of new bank funding
Healthy-eating restaurant group Tossed has revealed it has secured a new tranche of funding from Santander in order to support its plan to open another eight stores within the next 18 months.

The new funding comes less than a month after Vincent Mckevitt, Tossed’s founder and managing director, helped lead a management buy-out of the 11-strong restaurant group when private equity firm Beringea sold its stake in the company.

Now Mckevitt and Neil Sebba, the company's financial director, have helped secure £1.5m of bank financing. Commenting on the deal, Sebba said: "This has been possibly the busiest few weeks we have ever had as a business, but we are really excited about what comes next. With supportive financiers around the table we are ideally positioned to seek out new stores and offer our people some exciting new opportunities."

Tossed, which operates under the ethos 'healthy eating does not have to be boring', has confirmed it plans to add to its London stores with another eight venues in the capital over the next year to 18 months. The firm's flagship store reopens at Westfield London this weekend.

Related topics: Business, Restaurants, Venues

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