Innovative Bristol restaurant group Thali has secured a £100,000 finance package from HSBC to support the launch of its fifth outlet in the city.
The company has used the finance to acquire the lease and refurbish the restaurant in the Tobacco Factory in Southville. It is due to open on Wednesday. The deal was led on behalf of the bank by HSBC commercial manager Neil Ridge and the finance was backed by the Government’s Enterprise Finance Guarantee scheme.
Thali, known across Bristol for its no-frills, low-cost curries and the distinctive décor of its outlets, was founded by Jim Pizer and Sid Sharma 12 years ago and initially traded at music festivals.
The company opened its first permanent restaurant in Montpellier in 2001 and has since added outlets in Easton, Totterdown and Clifton.
The business has built a strong reputation for serving fresh, nutritious and authentic Indian food at an affordable price leading to a number of awards. The company also has an events business to cater for events of all sizes, ranging from music festivals to weddings to corporate events.
The new restaurant will mark the launch of a new menu, which will be piloted at the Southville site before being rolled out across the company’s other outlets over the coming months.
Mr Pizer said: “The new site at the Tobacco Factory enables us to establish a Thali Café in Bedminster, an area with a vibrant and diverse social scene. This our most ambitious project yet but it will make a massive different to the business and our financial performance. We are a profitable company but this new site should help to increase those profits as our cost base will not significantly rise.”
HSBC Bristol and Bath area commercial director Nick Stork said: “The Bristol Thali Company is a local institution enjoyed by thousands of Bristolians and visitors each year. This new restaurant puts it at the heart of a vibrant community and we are confident that it will be a great success.”
