Burning Night Group has announced a significant investment from a private investor allowing it to launch new sports-themed bar concept Sportskeller.
The company had raised more than 75% of its £750,000 target on the Crowdcube platform, with an initial four sites identified.
But an approach from a private London-based investor has prompted BurningNight to agree a private deal, described as “significantly in excess” of the £750,000 target.
The money raised on Crowdcube will be returned to investors, with Burning Night not ruling out further fundraising rounds in the new year to achieve their expansion ambitions for the brand.
Sportskeller is described as Burning Night’s first chameleon bar, bringing together popular elements of its existing Bierkeller beer hall and Shooters sports bar concepts, which are part of its Bierkeller Entertainment Complex.
Chief executive Allan Harper said: “We have ambitious plans for Sportskeller and they were particularly appealing to one individual investor who contacted us to make an offer. He was very impressed with what we intend to do, and the financial growth of our company, and after discussing terms he wanted to play a major part in a future Sportskeller roll-out.
“We were really pleased with the support for Sportskeller from our regulars and our teams around the country. We appreciate their backing so we will be looking at opportunities to thank them further via our venues in the New Year.”