RedCat Pub Company invests £8m across its estate

RedCat Pub Company is set to invest £8m across its portfolio over the next six to 12 months following a £61m refinancing deal.

 

It comes after the pub group, headed by former Greene King chief executive Rooney Anand, appointed administrators to its RedCat Leased Pubs division – a subsidiary of 10 leasehold pubs – in March.

 

The company also put 14 sites within its managed division up for sale and now operates 102 sites within the group.

 

Last month, RedCat Pub group received a £61m loan consisting of debt funding from Barclays Bank and further equity from the group’s existing investors, including funds managed by Oaktree Capital Management.

 

The latest £8m capital investment programme will be used to support 18 RedCat pubs and six Coaching Inns across the UK.

 

It will provide funds for staff training, interior and exterior refurbishments and a broadened food, drink, accommodation and entertainment offering.

 

The business has already completed five projects under the programme, including at the Bull in Barton Mills, the Wig & Mitre in Lincoln, as well as the Crown Inn, the Curzon Arms and the Langton Arms in and around Leicestershire.

 

Richard Lewis, chief executive of RedCat Pub Company, said: “Our pubs and inns are at the heart of the communities they serve. This substantial investment will help us further develop our business, support our dedicated teams, and ensure we deliver the best possible hospitality experience.”