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(left to right) Russell Turner and Martin Stead

The following article appeared on TheBusinessDesk.com

A THAI restaurant chain is planning a £500,000 investment programme and is aiming to expand into other UK cities.

Martin Stead, who opened his first Chaophraya restaurant in Leeds in 2004, has since branched out into Manchester and Liverpool and is now planning half a million pound of refurbishment to Chaophraya in Leeds.

Work on the extension in Leeds, which will increase the restaurant’s covers from 130 to 200 and will include a private VIP dining area, will begin shortly and there are plans to expand into other UK cities, including London, in the near future.

Mr Stead, who is the owner and manager of the chain, said Yorkshire accountants Garbutt & Elliott had played a pivotal role in the expansion of Chaophraya.

He said: “Some people thought I was mad to expand as the country plunged into recession, but the chance to take three units in Liverpool’s prestigious Grosvenor One development was simply too good to miss.

“But I could not have done this without the expert advice and support of Russell Turner and his team from Garbutt & Elliott in conjunction with Simon Bartle of Barclays in Leeds. They were the driving force behind a £2.5m financial package, with which everyone was comfortable.

“Crucially Russell, who understands the heart and the pulse of my business, accessed over £1.1 million of funding. This made all the difference and helped us open those three units in Liverpool, totalling 16,000 sq ft, and offering three versions of the Chaophraya experience.

Mr Turner, the managing director of Garbutt & Elliott, which has offices in York and Leeds, said: “Chaophraya’s growth and success to date has been amazing. Martin has developed a business model that is based on quality, attention to detail and focuses on maximising customer experience."