Loungers, the Bristol based all-day café/bar operator, saw its like-for-like sales increase by 3.9% in the 26 weeks to 26 October, as it looks to consolidate and add to its presence in existing locations over the coming year.
M&C Report understands that the company, which has opened its 54thsite, the Bonzo Lounge, in Keynsham, near Bristol, saw a 39.2% increase in total sale for the period to £21.1m.
Managing director Alex Reilley said: “Given that there are large areas of the UK we have yet to venture into the business clearly has terrific potential scale.” The company has said its Lounge format could “easily” exceed 350 sites.
The group invested £500k in the 4,800sq ft site, which is located in the redevelopment of Keynsham’s town centre and includes an 80-seater terrace.
The group, which will open a further two sites in December in Stroud and Peterborough, is set to open 20 sites in 2015 starting with the opening of Quinto Lounge in Sutton Coldfield on the 14th January.
It is understood that the planned 2015 openings will see Loungers consolidate its position in the South West as well as continuing to add to its presence in a number of cities where the business already operates.
The Sutton Coldfield opening will be Loungers’ fifth site in Birmingham with a Cosy Club opening also planned for the city in 2015.
It is also understood that the group plans to add a third site in Southampton, a fifth site in Bournemouth, and a further three sites in Manchester.
Reilley said: “We don’t see ourselves stretching the geographical boundaries in 2015 much beyond where we’ve already established the business. This is due to there being an abundance of opportunities in our existing patch and to a certain extent we are picking off some low-hanging fruit.
“We will continue to scale up the business in cities where we already have a presence whilst building upon the success we have enjoyed in smaller towns.”
