Loungers Group sees trade surge as restaurants reopen

Click to read the article in full.  

Cafe-bar group Loungers has experienced a surge in sales since reopening its restaurants, with the Eat Out to Help Out scheme helping drive growth over August.

The Bristol-founded business, which now operates 167 Loungers and Cosy Clubs across England and Wales, saw comparable sales jump 29.9 per cent from July 4 to September 13.

The company’s post-lockdown trading results announced this morning (September 16) revealed revenue rose to £166.5million for the financial year ending April 2020 - up from £152.9million the year before.

However, loss before tax widened from £6.7million to £14.7million over the same period.

Loungers said during the pandemic it secured an extra £15million in credit from its banks and £8.1million (net) of

 link source - Business Live News

Continue reading this article at the original source Here