Flight Club-owner Red Engine scores with new funding package

The leisure venue relation down Flight Club darts and Electric Shuffleboard volition this week denote an enlargement of its financing firepower arsenic it seeks to conscionable increasing user request for 'competitive socialising'.

Sky News 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 volition beryllium announced connected Wednesday, augments a £60m lending installation agreed with the trio of banks successful April past year.

Red Engine's maturation comes during a play successful which activity-led bars are increasing successful popularity crossed Britain contempt broader concerns astir 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 astir bringing radical unneurotic for unthinkable experiences," said Ross Shepley-Smith, Red Engine's main fiscal officer.

"This concern 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 pb the mode wrong the competitory socialising arena and this upsized financing volition enactment further rollout of these brands crossed Red Engine's existing markets," said James Protheroe, elder narration manager astatine HSBC Bank UK.