a focus on how Indians eat at home
Indian restaurant group Mowgli Street Food is set to open new venues in 2021.
This is despite its finances being hit by the Covid-19 pandemic.
The company, which is headquartered in Liverpool, said that it “retains a fundamental belief” in the dining-out market and the group’s ability to “prosper once trading restrictions are loosened”.
Mowgli currently has restaurants in Liverpool, Manchester, Birmingham, Oxford, Nottingham, Cardiff, Sheffield, Leeds, Bristol and Leicester.
There are plans to open new venues at Cheshire Oaks, Ellesmere Port and another in Edinburgh.
The expansion plans were included in documents with Companies House for its financial year to July 31, 2020.
The accounts show the brand’s turnover went from £11.9 million to £11.3 million in the year while its pre-tax losses widened from £1.2 million to £3 million.
In June 2020, Mowgli secured £2 million through the Coronavirus Business Interruption Loan Scheme and also drew “900,000 from an existing NatWest bank facility to part fund new openings”.
Mowgli Street Food was founded by Nisha Katona, a West Lancashire-born barrister-turned-restauranteur.
The restaurant has a focus on how Indians eat at home and on their streets.
The restaurant’s website states: “Mowgli is not about the intimate, hushed dining experience.
“It is about the smash and grab zing of healthy, light, virtuosic herbs and spices.”
Mowgli serves an array of dishes, ranging from traditional to innovative.
Dishes include bhel puri and paneer to gunpowder chicken and picnic potato curry.
On its finances over 2020, a statement signed off by the board said:
“Results for the financial year were severely affected by the impact of the Covid-19 pandemic and the associated Government actions and mandated closures.
“The group has faced further restrictions on trade over the winter of 2020-21 due to the Covid-19 pandemic with two further national lockdowns and local tier restrictions resulting in minimal trading across the estate from early November 2020 onwards.
“The group maintains a strong financial position due to the financing from June 2020 and retains continued support and a strong relationship with its shareholders and bankers.
“Detailed cashflow planning under various scenarios has demonstrated the group’s ability to weather the current period of enforced closure and remain a going concern under various trading scenarios in 2021 and beyond.
“Notwithstanding the impact of the pandemic, the group continues to plan expansion in the coming years and expects to open new restaurants in 2021.
“The group retains a fundamental belief in the dining-out market and the group’s ability to prosper once trading restrictions are loosened.”