Arc Inspirations, the operator of premium bar brands Banyan, Box and Manahatta, is set to accelerate its expansion across the UK after raising £7m.
The company, which already has 20 bars in operation across the Midlands and the North, said it had secured a £4m loan from HSBC plus £3m of equity from its shareholders to open at least four new bars a year over the next five years.
The fresh capital will also fund a refurbishment programme across its Manahatta sites, said Arc.
Arc’s next opening will be its debut Scottish site – Manahatta Edinburgh – which opens this summer. The company is also eyeing further launches in London, Liverpool, and Cardiff in 2024.
Last year, the group opened Box venues in Nottingham and Birmingham, as well as two Manahattas in Newcastle and Sheffield.
Photo from Arc Inspirations
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