300 jobs to be created by 5m pubs deal
This will support the company’s aim to open 30 pubs to add to the 70 it already has. 300 jobs will be created in the move.
The funding comes in the form of a £4m revolving credit facility (RCF) from Lloyds Bank Corporate Markets Merseyside plus £1m in loan notes from LGV Capital (LGV), the company’s majority shareholders.
The news comes on the back of winning the prestigious Morning Advertiser 250 Award for the pub company with the “Most Impressive Profit Growth” from amongst its industry peers. This endorses the success of Amber’s strategy of acquiring unloved wet led pubs and breathing new life into them through significant investment and its innovative Operator Agreement.
The success of this strategy has gained additional recognition through the company’s inclusion in the Sunday Times Fast track 100 Awards for growth in sales in both 2010 and 2011 and being shortlisted for 2012.
Clive Preston, chairman of Amber Taverns, said: “It’s been an exciting five years during which we have demonstrated time after time that good wet led pubs are a sound investment and provide a valuable local amenity.”
Left to right: Tim Rigg (Lloyds) James Baer (Amber) Clive Preston (Amber) Ashley Suter (Lloyds).