The financing, from Santander UK, HSBC UK and Barclays UK Corporate Bank, will support Red Engine’s site rollout and capital investment programme, fuelling its growth plans across the UK and internationally.
Next month, the group will open its 15th Flight Club in the UK, at Eldon Square in Newcastle. The latest location, which takes Red Engine to a 38-strong estate, has the semi-private oches that are a feature of the brand alongside plenty of seating options and an outdoor terrace.
‘Keep innovating’
Red Engine CFO Ross Shepley-Smith said: “Flight Club and Electric Shuffle have always been about bringing people together for incredible experiences. This investment allows us to continue our growth, open more venues, and keep innovating for our guests. We’re excited to work with our three banking partners as we take the next step in our journey.”
Santander Corporate and Commercial Banking senior relationship director Luke McSorley added: “We are pleased to have provided further support to Red Engine, as it continues the expansion of both its Flight Club and Electric Shuffle brands. The business has gone from strength to strength and has positioned itself as a leader in the competitive socialising sector. We’re thrilled to be working with the team once again as they enter the next chapter of their growth story.”
‘Additional rollout’
HSBC UK Bank senior relationship director James Protheroe commented: “HSBC UK is once again delighted to further our support for Red Engine as they seek to build on their already strong footprint of sites across the UK and internationally. The Flight Club and Electric Shuffle brands continue to lead the way within the competitive socialising arena and this upsized financing will support additional rollout of these brands across Red Engine’s existing markets.”
Barclays UK Corporate Bank relationship director Duncan Irvine finished: “This financing is a great example of our £22bn Business Prosperity Fund in action – helping dynamic businesses invest for growth, create jobs, and strengthen the UK economy. We’re proud to back such an innovative brand as it expands across the UK and internationally.”
The Morning Advertiser (MA) sat down with Red Engine co-founder and CEO Steve Moore in August.
“I just came up the idea with my friend Paul [Barham] about 12 years ago and we were one of the first to fuse technology with hospitality,” Moore said at the time. “We launched Flight Club Shoreditch but it took about two and a half to three years in development on the gaming side, the hospitality side, interiors and branding.”
“Nothing like the tech needed for Flight Club existed back then so it had to be invented and that’s pretty wild.”
On being successful as a competitive socialising business, he said: “Ensure you stay super connected to the guest and the guest experience, don’t assume anything because customer behaviour seems to shift quite quickly at the moment. The biggest thing is keeping on top of current trends and trying to truly understand what people like about your brand. That’s hard.”
