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Loungers show small sales fall after reopening

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

On current trading, all 165 sites in the estate have reopened, with the exception of Cosy Club in Leicester, which opens tomorrow, Friday.

Like-for-like sales have been -1.7% over the period from 4 July, when the phased reopening commenced, through to 2 August.

The company stated, 'Whilst these are still early days, we are encouraged by the initial strength of our trading performance to date and remain confident the group will emerge strongly from this period.'

Loungers will next update the market in late September when it published 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.