Loungers, the leading operator of 126
Since the beginning of the year, the Group has opened 12 new sites. Since opening its 100th Lounge in Moseley (Birmingham) in March, new Lounges have been opened in Chorlton, Bicester, Grantham and Warrington and the Group’s 22nd Cosy Club opening last weekend in Guildford.
The pipeline for new sites remains strong as Loungers looks to open 25 new sites in 2018. The pipeline for new Lounge neighbourhood café-bars is well advanced into 2019, and the Cosy Club pipeline is particularly evolved with sites now feeding into 2019 and 2020. Management continues to approach negotiations with landlords with caution given the current flux in the property market.
The business continues to trade well in the current environment and Lounger’s home-from-home, relaxed customer proposition – offering great food and drink, all day, to an increasingly broad demographic – continues to resonate with customers. Trading across both brands, in both mature sites and new openings
Over the course of the summer, the Group will open Lounge neighbourhood café-bars in Witham, Barnstaple, Biggleswade, Chesterfield, Newton Abbot, Didcot, Manchester Business School, Hitchin and Stocksbridge. Each new site creates around 30 new jobs, representing 750 new jobs this year alone. The Group’s 23rd Cosy Club is also confirmed to open in Norwich in the Autumn.
With a strong pipeline of additional sites in place, Loungers plans to continue to expand significantly, bringing its suburban “third space” lifestyle culture and hospitality, to many new locations and communities with a target of 25 new openings per year.
Nick Collins, Chief Executive of Loungers, said:
“We are pleased with trading both in terms of our new openings and the consistent level of growth which we are achieving across both brands in our more established sites. Whilst a plethora of retail opportunities are being presented to us, our site selection strategy is, as always, firmly focused on maintaining strict rental parameters and returns criteria. We remain comfortable with the current rate of roll-out and continue to work hard to ensure we are delivering better experiences for our teams, customers and the communities in which we serve.”25 June 2018