Tortilla prepares “healthy pipeline” of new openings
Tortilla has a “healthy pipeline” of restaurants as it targets 45 new openings in the next five years.
The Mexican restaurant chain has new sites lined up in Milton Keynes, Bracknell, and Belfast, all set to open by the end of the year.
In its annual report for 2022, Tortilla said it had a record year of growth, adding 18 sites (net) to its portfolio, bringing its total number of restaurants to 82 by the end of the year.
The restaurant said it was taking advantage of the “favourable property rental market”, having added 10 group-operated sites.
Tortilla has also been expanding through its franchising programme, opening five university franchise sites through a partnership with Compass Group and a further airport site opened in Bristol in partnership with SSP.
In May 2022, Tortilla acquired fellow Mexican restaurant Chilango helping secure its position in London. Five Chilango restaurants were converted to Tortilla branding while the three remaining restaurants were refurbished post-acquisition.
The restaurant chain hailed a successful year in terms of revenue, seeing a 20% increase to £57.7m, however, the group saw a net loss after tax of £0.6m, compared to a £1.4m profit in 2021.