Loungers continues rapid expansion with 25 new sites planned for 2018
Café/bar/restaurant group Loungers is set to reach 140 sites by the end of the year with 25 new sites in the 2018 pipeline, bosses have announced.
The group, which comprises 104 Lounges and 22 Cosy Clubs, has already opened 12 sites this year and has openings advanced into 2019.
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."
In its most recent results published with Companies House, for the 12 months to 23 April 2017, Loungers reported like-for-like sales up 5.3%, with pre-tax profits of £3.1m.
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