Birmingham-based nightclub operator, Miss Moneypenny’s has announced that its recently-opened HQ venue is the first in a series of five ‘lounge culture’ venues to be opened across the UK and Europe in a £10m expansion plan.

The company, which is also a dance music record label, is currently looking at existing sites in Edinburgh, Dublin, Manchester, Paris and Barcelona.

Funding is being sought through private investment and a possible entrance to the AIM market.

Co-founder and managing director, Dermot Ryan, said: “We believe the lounge culture concept reflects the current and future trends of the late night entertainment market.

“The sector is currently overcrowded by mainstream commercial nightclubs and themed bar venues who are not offering customers anything new or different.

“We believe there is a gap for a concept which embraces the elements of bar culture, a nightclub and live music venue as one, but within a luxurious and more personalised offering, focusing on attention to detail and personal service.”

Live music sessions called The Cedar Club will also be launched at HQ in Bimingham in February next year.

Miss Moneypenny’s is also planning to launch a lifestyle magazine next summer, a second Moneypenny’s fragrance and a series of dance music compilations to reflect the music policy of the clubs.