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5 Aug 2020 07:00
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.
For further information please contact:
Loungers plc Nick Collins, Chief Executive Officer Gregor Grant, Chief Financial Officer
| Via Instinctif Partners |
GCA Altium Limited (Financial Adviser and NOMAD) Sam Fuller / Katherine Hobbs / Tim Richardson
| Tel: 020 7484 4040 |
Liberum Capital Limited (Joint Broker) Clayton Bush / Andrew Godber / John Fishley
| Tel: 020 3100 2000 |
Peel Hunt LLP (Joint Broker) Dan Webster /George Sellar | Tel: 020 7418 8900 |
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Instinctif Partners (Financial Public Relations) Justine Warren / Matthew Smallwood
| Tel: 0207 457 2010/2005 |
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