Amber unveils latest openings
The new site in Wolverhampton has been named the Billy Wright and is to open after a refurbishment costing c.£370k. Amber bought the freehold from Scottish & Newcastle Pub Company for an undisclosed sum.
On Wednesday Amber opened Chennells in Barnsley, formerly operated by Dukedom, which was placed into administration earlier this year, after a revamp of £280k.
The following day the Preston-based company opened the Swinging Witch in Northwich, a former Punch Taverns site, after an investment totalling £245k.
Amber Taverns operations director Gary Roberts said four other sites are close to completion: in Leigh, near Wigan; Chester-Le-Street, County Durham; Horwich near Bolton; and Bingley, West Yorkshire.
In addition, the firm has applied for planning permission to transform its new site in Wellington, Shropshire, currently called Rasputins.
Amber Taverns, which is backed by LGV Capital, is to invest around £6m a year over the next three years as it looks to expand its estate pass the 100 mark after securing a new funding package worth £5m; £4m of the funding was a revolving credit facility from Lloyds Bank Corporate Markets Merseyside, plus £1m in loan notes from LGV.
