Wasabi seeks rent payment changes to aid expansion bid

Japanese-style grab-and-go chain Wasabi Sushi & Bento has asked landlords to alter rent payment agreements as it pursues an “ambitious expansion programme”. 

easid-508724-media-id-34202-445-250The chain, which launched in 2003 and has 51 stand-alone outlets as well as concessions in five branches of Marks & Spencer, is seeking to switch to a monthly payment scheme, reports EG News and Data.

A spokesperson for the company said: “Wasabi Sushi & Bento has an ambitious expansion programme planned for 2018 and 2019 and has asked landlords for a change in rent payment agreements, in line with many other UK retailers, in order to allow the company to manage funds more efficiently.”

Group companies accounts for the period to 31 December 2016 show gross profits of £35m.

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