Bar operator secures £7m funding for expansion

25th March 2024 | Jack Oliver

Arc Inspirations, the bar operator behind the Banyan, BOX, and Manahatta brands, has raised £7m of funding to support its expansion plans.

The group has secured a £4m loan from its banking partner HSBC as well as £3m of additional equity from its shareholders.

Arc Inspirations is aiming to open at least four new sites every year for the next five years, with the additional capital also being used to refurbish existing Manahatta sites.

Last year, the group opened BOX bars in Nottingham and Birmingham, as well as Manahatta bars in Newcastle and Sheffield.

The group’s next opening – Manahatta in Edinburgh – will be its first Scottish site. Arc Inspirations is also eyeing further openings in London, Liverpool, and Cardiff in 2024.

Martin Wolstencroft, co-founder and chief executive of Arc Inspirations, said: “We’re grateful to the HSBC UK team and to our shareholders who continue to believe in our business and support us on our ambitious growth journey.

“Together we have achieved a number of key milestones, with four successful new site openings in 2023, and our most successful festive period to date. Each success is testament to our team and culture, and I thank each and every member of our team as we continue to build what we believe is the best bar business in the country.”

James Sawley, head of retail and leisure at HSBC UK, said: “Arc Inspirations is a homegrown success story and we’re delighted to build on our relationship and provide further investment to this resilient and ambitious business.

“Arc has already achieved impressive scale, and our support has enabled Martin and his team to deliver significant growth in recent years. With a strong balance sheet, outstanding leadership team and proven concepts, we are confident in Arc’s ability to succeed in new, untapped markets across the UK, and we wish the team every success with the next stage of their exciting growth plans.”


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