Loungers steams ahead with 'rapid site rollout'

Cafe-bar and restaurant chain operator Loungers has continued its "rapid site rollout", with an opening every 10 days so far this year.

Loungers said on Thursday that, in the last three months, it has opened new Lounges in Bromsgrove, Chepstow, Macclesfield, Westwood Cross, Bracknell, Ilkley, Sidcup and Yeovilr, with the sites ranging from brand new developments to former banks, retail outlets and restaurants on the high street and in shopping centres.

The AIM-listed group now operates out of 257 total sites across the UK.

Alex Reilley, chief executive 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."

As of 1025 BST, Loungers shares were down 1.73% at 212.26p.

Reporting by Iain Gilbert at Sharecast.com