Simmons Bars, the Lonsdale Capital backed group, has put the lease of its Clerkenwell site up for sale through AG&G.
Nick Campbell, CEO, Simmons, told MCA that the business was looking with its options. “It doesn’t really fit in with our portfolio in terms of location and type of venue, so we are just looking at options, and trying to gain an idea of interest,” he said.
He added that the company was nearing completion on two further sites in the capital.
Simmons has achieved a like-for-like sales (lfls) increase of 8% for the full year to 31 March 2019, while total sales for the group increased by +30% for the year.
The rise was achieved despite the negative effects of the hot summer and World Cup on trade, with the business experiencing “a fantastic festive period”, where lfls were up 20% and total sales up c40%, Campbell told MCA last month.
“It has been a transformational year for Simmons Group,” he said. “The acquisition by Lonsdale Capital Partners in February 2018 was followed by major investment in the group’s overheads to put in place a platform for substantial growth as it targets 25-30 sites over the next three to five years.”
Simmons is due to open its 14th site at 35 Eastcheap, in the City, near Monument tube station, this summer.
To read MCA’s recent profile of Simmons click here.