New backer for fireworks

By The Newsroom
Published 23rd Feb 2011, 10:50 BST
Updated 24th Feb 2011, 10:43 BST
VIRGIN Money is set to be unveiled as the new financial backer of the Edinburgh International Festival fireworks concert, it was revealed today.

The future of the spectacular event, watched by around 250,000 people, looked in doubt after Bank of Scotland pulled an estimated 250,000 of funding after 16 years.

However, it is understood that the Edinburgh-based bank will step in.

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Earlier this month Virgin Money confirmed plans to open a new HQ in St Andrew Square and employ 300 new staff, adding to the current city workforce of 60.

It also this month announced a three-year partnership with the Edinburgh Festival Fringe worth close to 750,000.

A Virgin spokesman said: "Talks are ongoing and negotiations can sometimes be protracted."

Related topics:Virgin MoneyEdinburghEdinburgh Festival Fringe