Ten Entertainment Group, the 46-strong family entertainment company, has reported a 56.9% loss in sales for the 52 weeks to the end of December 2020.

Under enforced closure for 49% of the year, the group’s total sales were £36.3m - down 56.9% on 2019 – and down 17.4% on a like-for-like basis, adjusting for closures.

Though it saw strong trade pre-lockdown, delivering 12.7% total sales growth and 9.6% like-for-like sales growth in the first 11 weeks of the year, consumer confidence and confusion began to take a toll in the periods of post-lockdown reopening.

From August to September, the group saw sales at 77% year-on-year, despite operating at 50% capacity, but the implementation of additional restrictions such as the ban on household mixing in latter months dipped sales by 41% in October.

Despite its losses, the group said it is confident in its ability to bounce back, with assured liquidity – aided by an additional £14m term loan with RBS under the Government’s CLBILS scheme and a covenant reset of the existing £25m RCF facility agreed today (21 January) – to last it into 2022.

Graham Blackwell, who has today been confirmed as group CEO following a successful period as interim, said: “We expect there to be significant pent-up demand when our business reopens. Our highly popular competitive socialising model, operating in safe, spacious and well-invested centres, will be extremely attractive to people in a post vaccine environment.

“We have secured strong liquidity headroom well into 2022 and anticipate a rapid return to profitability and previous sales levels once the Government eases trading restrictions.”