Flight Club-owner Red Engine Scores With New Funding Package - Beritaja

The leisure venue usability down Flight Club darts and Electric Shuffleboard will this week denote an description of its financing firepower arsenic it seeks to meet increasing user request for 'competitive socialising'.

Beritaja understands that Red Engine, whose brands inhabit dozens of venues successful the UK and overseas, has landed an further £10m successful indebtedness financing from a syndicate comprising Barclays, HSBC and Santander UK.

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The funding, which will beryllium announced connected Wednesday, augments a £60m lending installation agreed pinch the trio of banks successful April past year.

Red Engine's maturation comes during a play successful which activity-led bars are increasing successful fame crossed Britain contempt broader concerns about the user spending environment.

Flight Club was launched astatine a venue successful London's Shoreditch 10 years ago, and has since grown to much than a twelve sites.

Electric Shuffle, meanwhile, precocious opened an further barroom astatine King's Cross successful the capital.

"Flight Club and Electric Shuffle person ever been about bringing group together for unthinkable experiences," said Ross Shepley-Smith, Red Engine's main financial officer.

"This finance allows america to proceed our growth, unfastened much venues, and support innovating for our guests."

The alleged 'competitive socialising' assemblage has mushroomed successful caller years arsenic advances successful exertion person improved consumers' leisure experience.

"The Flight Club and Electric Shuffle brands proceed to lead the measurement wrong the competitory socialising arena and this upsized financing will support further rollout of these brands crossed Red Engine's existing markets," said James Protheroe, elder narration head astatine HSBC Bank UK.