Loungers Plc Celebrates 20-Year Anniversary

All-day restaurant and bar group Loungers plc celebrated 20 years since the opening of its first ever site, Lounge, in North Street, Bristol, this August.

This important milestone in the Loungers calendar came just two months after the Group opened its 200th site, Cosy Club Chester, and reported a record year in 2021/2022, with sales of £237.3 million in the 52 weeks to 17th April, adjusted EBITDA of £53.6 million, and 27 new sites. Pre-tax profit for the period stood at £21.6 million.

The Group has a target of reaching 500 venues across its Lounge and Cosy Club brands in future, and recently announced its intention to open around 30 new sites per year.

Loungers Co-founder and Chairman, Alex Reilley, said: “20 years has flown by, but it also feels like a lifetime. When we first opened Lounge, we knew that we were onto something that would work, but we didn’t necessarily realise the potential we’ve realised in the past 20 years.

“Now feels like an appropriate time to pause and reflect, as well as to look to the future. We’ll continue to be ambitious, we’ll continue to refine and get better at what we do, and we’ll continue to grow.”

Loungers Chief Executive, Nick Collins, said: “We are delighted to have just opened our 200th site, and to have announced that we are increasing our roll-out target for site openings to 30 for this year.

“Whilst the short-term economic outlook is challenging, we are in an excellent position to weather the storm and to take advantage of growth opportunities coming out of it.”