Amber Taverns has agreed a £27.5m funding deal with Lloyds Commercial Bank in Liverpool to help fund its pub expansion over the next three years. The pub group aims to increase its existing portfolio of 86 pubs to around 120 across Northern England, the Midlands and North Wales by 2016, creating over 300 jobs.
The new deal will see Amber Taverns extend its existing credit facility with Lloyds Bank by £5m to allow it to continue its acquisition of new premises. The group's estate has already almost doubled in size in the past three years.
Clive Preston, chairman of Amber Taverns, commented, “The continuing success of our business is proof that the traditional ‘wet-led’ pub is alive and well, and quality venues in a good location and a competitive offer will thrive.'