Work has begun on a 1,300 capacity nightclub in Newcastle Upon Tyne, UK. The club will be operated by the Ultimate Leisure Group PLC, which has 25 late night bars and clubs in the North East. The group has secured a £13 million pound debt financing package from The Royal Bank of Scotland to aid its expansion plans for 2002. A spokesman for the group said the company had secured additional financing to be in the position to respond quickly to quality opportunities as they arose.
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