By M&C Report team2010-04-15T07:36:00+01:00
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.
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.
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.
Liberation Group is “disappointed but understanding” at news it will have to close 44 pubs in Jersey as the crown dependency enters a circuit breaker lockdown.
Wetherspoon will keep eight of its pubs open in Wales, effectively trading them as cafes.
As England emerges from a second lockdown and businesses adapt to the new tier system, Oakman Inns CEO Dermot King discusses how the government is forcing the hospitality sector to big up the tab.
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