Fishworks, the four-strong seafood restaurant group, plans to open a further three restaurants in 2004 according to chief executive and majority shareholder Roy Morris.
Morris and Mitchell Tonks, also a director and the chef brains behind the restaurants, have secured a loan facility of £400,000 from the Bank of Scotland to fund ongoing business as well as expansion plans. More finance is expected to be made available as the group grows.
All the new restaurants are expected to be in London.
Morris secured a 57.2% share in the company on 30 December but a waiver by shareholders means he will not be forced to make a general offer for the company.
Fishworks started life as a fishmonger but opened its first restaurant in Bath in 1998. It also has restaurants in Bristol, Christchurch and Chiswick. Average spend is £25 including wine.