Loungers Plc Regulatory News (LGRS)

18 April 2024

Loungers plc

("Loungers" or the "Group")

Loungers continues rapid site rollout with an opening every 10 days so far this year

Loungers, a leading operator of all day café/bar/restaurants across the UK under the Lounge, Cosy Club and Brightside brands, is delighted to announce the opening of a number of new sites since its last update on 29 January 2024, bringing the current total to 257 sites.

In the past three months, the Group opened new Lounges in Bromsgrove (Verraco Lounge), Chepstow (Pontio Lounge), Macclesfield (Panadero Lounge), Westwood Cross (Riparo Lounge), Bracknell (Pineto Lounge), Ilkley (Vitello Lounge), Sidcup (Sarto Lounge) and Yeovil (Barolo Lounge). As ever, the sites range from brand new developments to former banks, retail outlets and restaurants on the high street and in shopping centres, demonstrating the variety and versatility of the Lounge concept. All of the Lounges are named in keeping with the origins of the site and the surrounding area, with several also featuring murals paying homage to the local history.

As ever, with each new Lounge site nearly £1m is invested into the local high street and an average of 30 new jobs are created.

As its estate grows, Loungers' success continues to be recognised across the industry. The Group was pleased to be recently crowned Best Pub / Bar Company at the MCA Hospitality Awards 2024, with the Lounge concept also winning an award for the Best Street Food Inspiration at the MIDAS Awards. In addition, Alex Reilley, Chairman and co-founder of Loungers, was awarded Business Leader of the Year at the recent Publican Awards 2024.

Alex Reilley, Chairman and co-founder of Loungers, said:

"With a new site opening every 10 days so far this year across a wide variety of locations in the UK, Loungers continues to go from strength to strength with a fantastic pipeline ahead. We still firmly believe that there is scope for over 600 Lounges, and are more excited than ever about the future of this business."

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Notes to Editors

Loungers operates through its three established complementary brands - Lounge, Cosy Club and Brightside - in the UK hospitality sector. A Lounge is a neighbourhood café/bar combining elements of coffee shop culture, the British pub and dining. There are 219 Lounges nationwide. Lounges are principally located in secondary suburban high streets and small town centres. The sites are characterised by informal, unique interiors with an emphasis on a warm, comfortable atmosphere, often described as a "home from home".

Cosy Clubs are more formal bars/restaurants offering reservations and table service but share many similarities with the Lounges in terms of their broad, all-day offering and their focus on hospitality and culture. Cosy Clubs are typically located in city centres and large market towns. Interiors tend to be larger and more theatrical than for a Lounge, and heritage buildings or first-floor spaces are often employed to create a sense of occasion. There are 35 Cosy Clubs nationwide.

Brightside is a roadside dining concept and was launched in November 2022. The first Brightside location opened on the A38, south of Exeter, in February 2023, with the second opening in Saltash near Plymouth in June 2023 and the third in Honiton on the A303 in August 2023.