Adventure Bar chain to open new site after £1.4m loan
The group currently has seven sites – Adventure Bars in Clapham Junction, Clapham High Street and Covent Garden; the Escapologist in Seven Dials, Bar Elba and Tonight Josephine in Waterloo; and an après-ski bar in Courchevel, France.
Adventure Bar will use the loan from OakNorth to refurbish its existing venue in Covent Garden as well as open a branch in London’s Hoxton Square.
The new venue will become the third to be funded by OakNorth in quick succession after Bar Elba and Tonight Josephine were backed by the lender and opened within the past 12 months.
Co-founder and director of Adventure Bar Tom Kidd said: “Over the past five years, Shoreditch has become one of the most popular party destinations in the capital, as well as one of its most trendy locations for food, drinks and fashion.
“Its proximity to the City makes it a popular choice among young professionals and, therefore, an ideal location for our next site.
“We’re delighted to once again be working with OakNorth to fund our expansion – we appreciate all the support they’ve given us over the past three years and look forward to continuing to work with them as we grow.”
OakNorth senior debt finance director Deepesh Thakrar added: “Adventure Bars was one of our first clients back when we launched in September 2015, so it’s been a privilege to see the group expand from its three sites then to the seven it has today.
“The team work brilliantly together and have developed a proposition that is proving to be extremely popular with Londoners and tourists alike.
“All sites are profitable, including their two new sites in Waterloo which are less than a year old – an impressive feat.
“We look forward to working with the team on more deals in the future and help them continue building on this success.”
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