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Lancashire pub chain secures £24 million in funding

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Amber Taverns, a Lancashire pub chain founded seven years ago by industry veteran Clive Preston, looks set to expand its operation across the UK following a £24 million funding boost through the government’s National Loan Guarantee Scheme.

The group has also extended its credit facility with current lender Lloyds as it sets in motion plans to open 12 new pubs a year for the next two years.

One of the biggest operators in the north-west, Amber Taverns already has around 80 establishments across northern England, the Midlands and North Wales, with this latest investment allowing it to expand its business even further.

Mr Preston expressed his pleasure at the deal and noted that it will allow Amber Taverns to kick on to the next level, helping boost the UK economy as well as enhancing its business offering.

"We are on course to own 100 pubs within two years and then we will see just how far we can go after that," added the chairman.

"At Amber Taverns, we've proved conclusively that the wet led pub can thrive with a quality offering in the right location."

The company is known for its ability to link with local communities in order to enhance its customer base, offering leading brands of beer and cider as well as wine and soft drinks.

Furthermore, some sites are fitted with kitchen equipment and able to offer simple meals to customers.

According to the chairman, each of the pubs in the Amber Taverns portfolio now averages an income of roughly £100,000 a year, indicating that suggestions of a crisis in the leisure and pubs sector could be unfounded.

Ashley Suter, relationship director for Lloyds' Wholesale Banking and Markets in West Lancashire, said that "entrepreneurial mid-sized companies" of this kind are ideal for Lloyds' scheme, which can allow them to grow rapidly.ADNFCR-16001031-ID-801467715-ADNFCR

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