Loungers’ expansion pushes turnover up 55%

By Emma Eversham

- Last updated on GMT

Related tags: Unemployment, Recession, Managing director, Alex reilley

Loungers plans to expand to 24 sites in the next year
Loungers plans to expand to 24 sites in the next year
Loungers, the Bristol-based café, bar and restaurant group, saw turnover grow 55 per cent to almost £11m last year after adding an extra four sites to its estate.

Despite last year's rocky economic situation, the company behind The Cosy Club concept decided to grow the number of sites it operates to 17, which managing director Alex Reilley said had been a good move.

“Our decision to grow more aggressively against the backdrop of the economic downturn was considered extremely brave by many but has certainly paid dividends,” he said.

24 sites by 2012

Following the release of its figures for the year ending 30 April 2011, Reilley outlined plans to add another seven sites to its estate by the end of April 2012.

The group will open a second Cosy Club in Bath in June followed by Santo Lounge in Southampton in August. Two sites have been earmarked in Bournemouth and another in Birmingham for Lounge’s while Cosy Club sites have been secured in Stamford and Exeter.

“We’ve got a fully stocked pipeline to take us up to 24 sites by the end of April 2012”, said Reilley “And we are now working on site opportunities beyond our new financial year of which we have 2 sites already at advanced stages of negotiation”.

Location

Reilley also confirmed that the group’s geographical strategy would remain unchanged. “We’ve got our pitch marked out and believe that there’s still loads of opportunities, easily enough to take us beyond 30 sites, within a 3 hour drive from Bristol without going into London,” he said.

Related topics: Business, Restaurants, Pubs & Bars

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