Burning Night Group hits £7 million crowdfunding target

The Burning Night Group operates 13 venues across northern England and Wales
27/07/2017 - 07:00
Bar company The Burning Night Group has hit its £7 million target three months after launching a crowdfunding campaign.

The company, which owns the Bierkeller, Shooters and Around the World bar chains, started the campaign in order to raise funds to help with its expansion plans.

The group generated more than £4 million in one day through an initial crowdstacker appeal before setting a new target of £7 million in April, which it has now reached.

Allan Harper, chief executive of the group, said the Crowdstacker Peer to Peer loan (P2P) was chosen as a way to involve customers’ in the business’ 'future growth' with a potentially 'inflation-beating return of 7% gross per annum', for a minimum investment of £500 over a three-year term.

Regarding the funds raised, Harper said: “To reach that kind of sum, especially in the current economic climate, shows a fantastic response to our campaign and the faith that investors have in us as a company.

“We are committed to expanding our brands, creating new opportunities and jobs, and building on the tremendous success we’ve already achieved."

The Burning Night Group currently employs more than 500 people and had a turnover in 2016 in excess of £17 million.

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