The group, which operates The Lounge and Cosy Club brands, will open seven new sites before its year-end in April, with another 18 sites slated for the following eight months. Its estate now comprises 137 sites nationwide - comprising 115 Lounges and 22 Cosy Clubs
The company has also reported a strong Christmas trading, with like-for-like sales having grown 11% in the five weeks to 6 January, with total sales up 31% to £18.3m. The company says it continues to trade well in the current economic environment with strong performances across both brands in mature sites and its more recent openings.
“I am delighted to report another period of strong trading,” says chief executive Nick Collins. “Both Lounge and Cosy Club delivered impressive volume-led growth against strong comparatives last year, whilst maintaining a keen focus on price and margin.
“As in previous years, the vast majority of our sites were closed for both Christmas Day and Boxing Day, enabling our teams to spend time with their friends and families. Huge credit must go to our teams for their amazing hard work and commitment in delivering such a fantastic result.”
“Christmas is a demanding time of year for the hospitality sector and their willingness and determination to provide great customer experiences in the communities in which we serve underlies our success.”
The company will open Clio Lounge in Bangor and Navarro Lounge in Manchester later this month with new Cosy Clubs set to open in Norwich in February and Gunwharf Quays in Portsmouth in March.
“We are excited about the prospects for the business in 2019 and continue to see great opportunities to expand whilst maintaining our strict discipline around site economics and returns,” adds Collins.