All Loungers articles – Page 4
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EventsLoungers and Franco Manco join The Conversation
Loungers CEO Nick Collins and Fulham Shore chairman David Page join UKHospitality CEO Kate Nicholls on MCA’s The Conversation today.
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NewsLoungers has opportunity to sign bigger, premium sites
The expectation of record vacancy rates this year presents Loungers with the opportunity to acquire larger, premium sites, while staying true to its tight financial criteria, according to analyst Liberum.
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NewsLoungers sales up 26.6%
Loungers has reported like-for-like sales over the four-week period from 17 May to 13 June 2021 were up 26.6%, compared to the same period in 2019.
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Analysis & InsightDifferentiation is key to a successful rollout
The ability to provide a differentiated experience is key to a successful rollout, and one that Loungers is able to offer, according to analysts Berenberg.
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NewsLoungers set to ‘explode out of the blocks’, says analyst
Analyst Liberum has said it expects Loungers to “explode out of the blocks” once sites reopen, following the announcement by the operator this morning that it intends to resume its fast-pasted opening rate once restrictions are lifted.
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NewsLoungers agrees extension to £15m bank facility; updates on openings
Loungers has announced that its lending banks have approved a 12-month extension to the incremental £15m revolving credit facility (RCF) that was place in place in April 2020.
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NewsBerenberg on Loungers
Loungers is well-positioned for growth in a post-Covid 19 world and has the potential to scale to as many as 1,000 sites over time, according to analysts Berenberg.
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InterviewsAlex Reilley calls for acceleration of reopening
Loungers chairman Alex Reilley is hopeful that with falling infection numbers, there will be growing calls for an acceleration of the reopening roadmap.
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NewsReilley: ‘Budget the most important day in history of hospitality’
The Budget is arguably the most important day in the history of the hospitality sector, with Sunak’s support set to either provide “desperately needed hope” or “a single, devastating blow,” Loungers Chairman Alex Reilley has said.
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Analysis & InsightRoadmap ‘too little too late’ and ‘worse than the worst-case scenario’
Sector leaders have criticised the Government for once again “penalising hospitality” with its reopening strategy, forcing pubs and restaurants to wait a further three months before they can operate inside. The proposed reopening timeline has been branded “too little too late,” and “worse than the worst-case scenario” by operators from all corners of the sector, who have warned that without significant support in next week’s Budget, there will be a “devastating” fallout for businesses.
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NewsCast your vote in the Retailer’s Retailer Awards
Make sure you cast your vote in MCA’s Retailer’s Retailer of the Year Awards, as we count down to the big event on 11 March.
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InterviewsNick Collins: ‘Opportunities won’t sway our strategy’
The inevitable increase in high-footfall site opportunities following the pandemic will not change Loungers’ established property strategy, CEO Nick Collins has said.
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InterviewsAlex Reilley: ‘The end of the moratoria will leave thousands of businesses horrifically exposed’
Loungers chairman and co-founder Alex Reilley expects the end of the lease forfeiture and debt enforcement moratoria in March will lead to a ‘phenomenal glut’ of CVAs across hospitality.
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Analysis & InsightPeel Hunt on 2021: A year of two halves
Q1 is traditionally the quietest quarter in licensed retail; it is when tenants are most likely to hand back the keys. Sadly, without any additional government support and with the rent moratorium ending in March (with 15 months of rent due in some cases), many private companies could run out of liquidity. Many sources have suggested a 20-30% supply reduction. We are more optimistic than this due to corporate activity. The speed and direction of capital reallocation will be critical to this, in our view.
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InterviewsLoungers CEO Nick Collins: ‘We have a real role in improving high streets’
When discussing the enduring success of the Loungers business, “well-hedged” is not a phrase CEO Nick Collins says he would necessarily use, but he recognises it’s a good one.
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NewsLoungers holds profit despite lockdowns
Loungers saw its turnover fall 33% to £53.5m in the 24 weeks to 4 October, but still managed to turn a profit despite a raft of restrictions.
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NewsLoungers trading well post-reopening
Loungers has released a trading update saying since reopening on 4 July the Group delivered like for like sales growth of 25.1%. All of its 168 sites are trading and it plans to open three more before the end of the year. “I am delighted with our continued excellent trading which reflects the resilience of our brands and fantastic performance of our team working in very difficult circumstances,” said CEO Nick Collins. ”Loungers, and the sector more broadly, have gone to considerable efforts to ensure the safety of our teams and customers.
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InterviewsLoungers CEO Nick Collins: ‘Our customers missed us’
All-day café-bar-restaurant operator Loungers is back to its market beating trading, with net like for like sales growth of 29.9% over the past nine weeks.