Leon launches bond to fund growth
6 June, 2012
Leon has just launched a new ‘Leon Bond’ that will be used to help fund future openings. The scheme will see people lend money to Leon to help fund new launches, in return for interest plus perks.
Some of the money may also be used to expand Leon beyond the UK and to replace debt it currently owns. Bonds, which can be bought in £1,500, £3,000 or £5,000 packages, are open only to Leon club members and will be held for three years, after which they can be extended or the money returned. Bond holders will also get set levels of ‘Leon Pounds’ which can be used to buy any items from Leon, and will go into draws for special benefits.
Launching the scheme, co-founders Vincent and Henry Dimbleby said:
“We are often sent messages asking us to open new restaurants—so often that we wondered whether the people who eat with us would like to get involved in helping us grow… We’d rather pay interest to our club members than to the banks.”
The company will also set up the not-for-profit Leon Foundation to promote good and healthy food, with early initiatives to include an annual summer cookery school for children with renal illnesses who require a specific diet.