Food connoisseurs in Greater Vancouver know that for a memorable dining experience, a restaurant in the award-winning Kirin Restaurant Group is a great place to go. Specializing in Northern Chinese and Cantonese cuisine, the Group’s establishments (there are four Kirin restaurants and two Shang Noodle House restaurants) are known for their varied and authentic menus, including preparation of seafood in both traditional and exotic styles. These restaurants are popular stops for visitors as well as for locals, and have earned a reputation for meticulously prepared food and excellent service in a comfortable ambiance.
Since its founding in 1987, the Kirin Restaurant Group has known real success, but company officials came to realize that for continued long-term progress, their overhead costs had to be controlled, especially their rental costs. When an opportunity arose to purchase the premises of one of their restaurants, they wanted to go ahead with the deal, but they did not want the acquisition to affect the restaurant’s working capital requirements. BDC Financing provided the Kirin Restaurant Group with high leverage and long-term financing for the $5.5 million purchase, a move which allowed the company to preserve its working capital. With help from BDC, the Group has experienced continued growth: total revenues in fiscal 2012 grew by 5% with sustainable profits.
“Support from BDC Financing helped us acquire our own space and operate the business effectively,” notes Jason Chan, Executive Officer for the Kirin Restaurant Group.