Restaurants

Loungers to open 25 new sites as profits surge

During the period, revenue increased to £102.4m from £53.5m in 2020 whilst like-for-like sales grew 26.6% compared to 2019

Loungers has announced plans to open 25 new sites next year after securing pre-tax profits of £12.8m for the 24-week period ended 3 October 2021.

During the period, revenue increased to £102.4m from £53.5m in 2020 whilst like-for-like sales grew 26.6% compared to 2019.

The business has continued to achieve strong like-for-like sales growth post 3 October with headline like-for-like sales across the 28 weeks to 28 November up 23.4%.

Nick Collins, CEO of Loungers said: “Our value for money, all day offer appeals to a very broad demographic, and this underpins our market-leading performance in towns and suburbs across England and Wales.

“As we move into the Christmas trading period any potential impact of Omicron remains to be seen, but as we look ahead to 2022, I am very optimistic with regards to our prospects and the continuing roll-out of both Lounge and Cosy Club.”

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