Loungers, the Lion Capital-backed neighbourhood cafe-baroperator has chosen advisors ahead of a potential IPO push.
According to The Times, the Nick Collins-led group has selected Peel Hunt and Liberum to handle a potential £250m+ listing.
It comes on the back of strong festive results for the group, released yesterday, showing like-for-like sales grew 11% in the five weeks to 6 January with total sales up 31% to £18.3m.
The group is set to open seven new sites before its year-end in April, with 25 openings planned in total for 2019.
Loungers has opened 17 new Lounges and 1 Cosy Club in the current financial year. Clio Lounge in Bangor and Navarro Lounge in Manchester are due to open later this month and new Cosy Clubs will open in Norwich in February and Gunwharf Quays in Portsmouth during March. The group will end its financial year in April on 146 sites.
Precis
Loungers, the Lion Capital-backed neighbourhood cafe-bar operator has chosen advisors ahead of a potential IPO push. According to The Times, the Nick Collins-led group has selected Peel Hunt and Liberum to handle a potential £250m+ listing. It comes on the back of strong festive results for the group, released yesterday, showing like-for-like sales grew 11% in the five weeks to 6 January with total sales up 31% to £18.3m. The group is set to open seven new sites before its year-end in April, with 25 openings planned in total for 2019.
