Restaurant chain Loungers has continued its national roll-out by opening four new sites.
The company, which was founded in Bristol, has added three new Lounge sites in Lincolnshire market town Louth, Carlisle and Hexham in Northumberland, as well one of its Cosy Club bars in Oxford. The firm now has an estate of 242 outlets across the country, having opened its 200th Lounge earlier this year, while it also now operates 36 Cosy Clubs. It added that it was “firmly on track” to launch 34 new sites in its current financial year.
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Bosses told investors in an update on the London Stock Exchange its latest openings reflected the firm’s ability to “breathe new life” into high streets. Alfredo Lounge in Louth is located in a former Eve & Ranshaw department store, Bordo Lounge was previously a Top Shop in Carlisle and Muro Lounge was an Argos store in Hexham.
The board said each new Lounge creates 30 new jobs on average, with each opening typically representing an investment of up to £1m into its local high street. Loungers previously said it was expecting to create more than 1,000 new jobs this year.
Chief executive Nick Collins said: “Our accelerated site roll-out plan remains firmly on track, and we’re delighted with the four new sites that we’ve opened in the last few weeks. It’s particularly pleasing to be increasing our presence in the North through the openings in Carlisle and Hexham, and we see significant potential for more sites in both the North West and the North East.
“It’s also great to be finally opening a Cosy Club in Oxford. It’s a city that’s been on our list for quite some time and we’ve been really pleased with trade in its first few weeks. Our ambitions for Oxford don’t end there and, in time, we see scope for bringing at least four new Lounge sites to the suburbs of the city.”
Loungers reported record revenue in its last full financial year of £283.5m, up 19.5% on the previous 12 months.
