Restaurant Report 2025
41-50
Restaurants

41.
Turtle Bay
Founded: 2010
Sites: 53 (52)
Caribbean brand Turtle Bay reached its 50th site milestone in May 2023 with the opening of a restaurant in Camden, which was also its first outpost in north London, following up in October with its first Scottish site. In July 2024 it reported record turnover of £93.7m for the year ending 31 March 2024, a 6.1% increase on the year before. The 53-strong group maintained strong adjusted EBITDA of £9m over the period, slightly down from £10.2m in the previous year. Profit before tax stood at £1.9m, compared to £9.9m the prior year, which had been bolstered by a significant £6.4m insurance payout.
42.
Las Iguanas
Founded: 1991
Sites: 52 (50)
The Latin American restaurant brand started out in Bristol when Erin Ali took on a failed Italian on a back street and remains the major player in that particular restaurant space. It has been part of the Big Table Group portfolio since 2015 alongside its other brands Bella Italia, Cafe Rouge, and Banana Tree, with sites stretching from Scotland to the south Coast. As well as serving Latin American food the brand has had a lot of success with its strong cocktail offer.
43.
Giggling Squid
Founded: 2009
Sites: 52 (47)
Andrew Laurilland and his wife Pranee hit on the idea of creating the UK’s first major Thai UK chain 15 years ago with plans to reach 50 sites by 2017 and they have not been far off the mark with their ambitions. The brand has successfully grown thanks to its focus on interior design, large menu offer, and competitive pricing, in particular its lunchtime menu, that take Thai food to areas across the country. New Giggling Squid restaurant are set to launch in Leeds, Godalming, Exeter and Cobham this year
44.
TGI Friday’s
Founded: 1965
Sites: 50 (86)
The US-brand made its UK debut in Covent Garden in 1987 and by 2004 had grown to 41 sites. In 2014 Electra Private Equity invested in the brand, and in 2021 announced that holding company Hostmore would take over as the parent company of TGI Fridays. In September 2024, Hostmore filed for administration and a month later the company was acquired by Breal Capital and Calveton in a deal that saved at least 51 of the American bar and restaurant brand’s sites. However, a further 36 TGI sites face closure.
45.
The Ivy Collection
Founded: 1917
Sites: 50 (49)
The original The Ivy opened in Covent Garden in 1917, but it wasn’t until 2014 when the roll out of the brand started to take shape, first with the opening of spin-off The Market Grill in Covent Garden and later in Chelsea. The brand uses The Ivy name in different guises, such as The Ivy Brasserie, The Ivy Cafe, depending on its size and location. It currently operates 42 restaurants under The Ivy brand as well as a further eight under The Ivy Asia name. Last year, it was reported that owner Richard Caring was set to sell his whole stake in The Ivy Collection in a deal that valued the business at £1bn. The sale has yet to go through.
46.
Bill’s
Founded: 2001
Sites: 48 (45)
What started out life as a small greengrocer in Lewes, East Sussex, opened by the eponymous Bill Collison, has grown into a nationwide chain. Owned by Richard Caring’s Caprice Holdings, the business has worked hard to get back on track after the Coronavirus pandemic, which saw it close around half of its sites. The business is now back on the expansion trail having launched restaurants in Milton Keynes and Street, Somerset, last year and says it is in the process of securing a pipeline for 2025. Bill’s reported a ‘strong trading performance’ in the first half of 2024 with like-for-like sales up 3.4%. This follows ‘record sales’ in 2023 where EBTDA rose 45% on the year before.
47.
Pho
Founded: 2005
Sites: 46 (41)
The original Clerkenwell restaurant may no longer be part of the Vietnamese restaurant group following the directors’ decision not to renew the lease, but Pho has continued to expand steadily across the UK. Recent launches include Canary Wharf, London Bridge, Milton Keynes, Canterbury, Liverpool Castle Street (their second in the city), and Fulham Broadway. The company had a strong 2023 with sales of over £72m, up from £58m the previous year. The business has reported +7.3% like for like sales for the 11 months to 14 January 2024, despite challenging economic conditions.
48.
Sam’s Chicken
Founded: 1990
Sites: 43 (45)
Founded by Sri Lankan Sam Chandrasinghe in Wealdstone, Harrow, north west London, Sam's serves a tight chicken-focused menu that comprises four boxed meals, loaded fries, beans and rice. The brand is located predominantly in the south east and The Midlands but also has a handful of south coast locations, including Portsmouth, the Isle of Wight, and Southampton.
49.
Rosa’s Thai
Founded: 2008
Sites: 42 (38)
Founded by Saiphin Moore in Spitalfields, Rosa’s Thai was named after the greasy spoon café Rosa’s that her restaurant replaced. The TriSpan-backed restaurant group secured a new £10m bank facility in 2023 to build its footprint outside the capital and also made its debut in Scotland that same year. Rosa’s Thai sites will soon launch in Cheltenham, Reading and London’s Balham.
50.
Yo!
Founded: 1997
Sites: 42 (50)
Sushi brand YO!, formerly known as YO! Sushi, was at the forefront of sushi conveyor belt dining in the UK when it opened on Soho’s Poland Street in 1997. The brand is now owned by Snowfox Group, which has leveraged its power by opening more than 50 sushi kiosks in supermarkets as well as creating a YO! To Go range for retail. According to YO!’s website it has over 500 locations in the UK but only a small proportion offer eat in.
