Bar and restaurant operator Loungers has opened a record number of sites over the past year as it pushes on with an “accelerated” expansion strategy.
In a stock exchange trading update, the company said it opened 36 sites over the 53 weeks to 21 April. Revenue rose by a quarter year-on-year to a record £353.5m.
The new sites comprised three Lounges, one Cosy Club and two Brightsides, and took the portfolio to 257 sites. Since the year end, the company has opened a Lounge in Ely, Cambridgeshire.
Chief executive Nick Collins said: “We have consistently out-performed the sector on a like-for-like basis whilst having delivered a record new site openings. As ever, it’s our continued focus on menu innovation, value for money and exceptional hospitality that is driving the strength of our performance in both the mature estate and our new openings.”
Image © Loungers
Send feedback to Tim Burke
Follow Estates Gazette
