LONDON (ShareCast) - (Sharecast News) - Tortilla Mexican Grill said on Tuesday that it has secured a £12.5m debt facility with its long-standing banking partner, Santander UK, as it announced the departure of chief financial officer Maria Denny.
Tortilla has agreed a new senior facility agreement which replaces the existing £10m facility which was due to mature in September 2026.

The fast-casual Mexican restaurant brand said the new enhanced facility will strengthen its balance sheet and provide additional flexibility to support UK growth "through targeted investment in technology and brand marketing".

It will also enable the refurbishment and rebranding of the sites acquired in France last year, which will relaunch under the Tortilla brand.

The company also announced that Denny will step down from her role as CFO with effect from 30 September, as Tortilla "enters the next phase of its development".

The board has begun a formal search process to identify a successor. In the interim, Josie Whelan, currently head of commercial finance, will be appointed non-board interim CFO and will work alongside Denny to ensure an orderly handover.

Chief executive Andy Naylor said: "On behalf of the board, I would like to thank Maria for her significant contribution to Tortilla particularly during our recent refinancing process and financially steering the business through the acquisition of Fresh Burritos and our growth initiatives in the UK. We wish Maria all the best in her future endeavours."

At 1345 BST, the shares were down 2.4% at 41p.

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