Caribbean restaurant group Turtle Bay has secured external financing to open six new restaurants this year.
The expansion, which will create half a dozen kitchen build projects, came after the group struck a new financing arrangement with Santander Corporate & Commercial.
Turtle Bay opened its first restaurant two and a half years ago in Milton Keynes and has since opened a further three, in Southampton, Nottingham and Bristol.
The group is headed by Ajith Jajawickrema, who founded Las Iguanas in 1991 with one small restaurant in Bristol and has grown the chain to almost 30 restaurants in the UK.
He said: “I’m delighted that we’ve secured this funding with Santander, which will enable us to open up to 10 new restaurants and create around 200 new jobs over the next couple of years.”
He added that Turtle Bay aims to capture the Caribbean island vibe by serving up authentic dishes in an environment inspired by the love of laid-back living. “It is a unique dining experience, so we hope our new locations will prove as popular as they have been in the four locations we already have.”
Simon Whyatt, relationship director for Santander Corporate & Commercial, explained the bank’s reasons for financing Turtle Bay.
“The casual Caribbean dining concept works really well and is something that hasn’t really been done before. Ajith’s vision has worked incredibly well in the past, with Las Iguana’s for example, so we have complete faith that he will make a real success of this, his next venture.”