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Wed 17th Aug 2016 - Giggling Squid reveals plans for ten further sites in next year, appoints chief financial officer
Giggling Squid reveals plans for ten further sites in next year, appoints chief financial officer: Thai restaurant brand Giggling Squid has revealed plans to add ten further sites to its estate over the next 12 months. On the back of its recent £6.4m investment from the Business Growth Fund and the granting of a new £8m bank facility with Barclays, Giggling Squid is stepping up its growth plans as it looks to expand its 15-strong estate. In addition to sites in Norwich, Berkhamsted, Warwick and Farnham already in “fit out”, the business has recently acquired restaurants in Brentwood, Wokingham, Windsor, Bath and will be adding an extension to its Guildford restaurant, to make up a second wave of projects. Beyond that the brand, founded and majority owned by husband and wife team Andrew and Pranee Laurillard, is in negotiations to acquire several further properties in and around the M25 area, which it expects to complete in the coming weeks. By the middle of 2017, Giggling Squid looks set to trade across 25 sites. 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 company has also appointed Mike O’Mahoney as chief financial officer. Managing director Andrew 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.” 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 more than 20 years’ experience in the hospitality and leisure industry. Prior to Giggling Squid, he held chief financial officer positions at Devere, The Hotel Collection, Thistle Hotels and Little Chef Restaurants.

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