Loungers Plc Regulatory News (LGRS)

5 August 2020

Loungers plc

("Loungers" or "the Group")

Trading update

Loungers, the operator of 165 neighbourhood café / bar / restaurants across England and Wales under the Lounge and Cosy Club brands, announces the following update.

The Board is pleased to update on current trading having now re-opened all 165 sites in the estate, with the exception of Cosy Club in Leicester which opens this Friday. Like for like sales have been -1.7% over the period from 4 July, when our phased re-opening commenced, through to 2 August. Whilst these are still early days, we are encouraged by the initial strength of our trading performance to date and remain confident the Company will emerge strongly from this period. 

Loungers will next update the market in late September when we publish our preliminary results for the year ending 19th April 2020. The Board hopes to be in a position to recommence providing fuller guidance to the market at this time.

This announcement is released by Loungers and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. This announcement is being made on behalf of the Company by Nick Collins, Chief Executive Officer of Loungers.

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