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Loungers reopens all but one of its 165 sites

By Iain Gilbert

Date: Wednesday 05 Aug 2020

Loungers reopens all but one of its 165 sites

(Sharecast News) - Bar and restaurant operator Loungers said on Wednesday that it has now re-opened all 165 sites in its estate, with the exception of Cosy Club in Leicester.
Loungers said like-for-like sales were down 1.7% over the period from 4 July, when its phased re-opening commenced and said it was encouraged by the initial strength of its trading performance.

The AIM-listed said that while it was "still early days", it was "encouraged" by the strength of its trading performance to date and remained "confident" of emerging strongly from the current period of economic uncertainty stemming from the Covid-19 pandemic.

Loungers also added that it hopes to be in a position to recommence providing fuller guidance to the market at the time of publication of its full-year report card in late September.

As of 1330 BST, Loungers shares had shot up 20.93% to 130.0p.


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