Loungers planning to open 30 new bars after enjoying record year

The chain has become a familiar sight in towns across the region, offering food and drinks in a car filled with assorted paintings.

It now has all day sites in Wolverhampton, where Lupo Lounge has become a popular location for people of all ages, from breakfast in the morning to cocktails late at night.

There are also branches of the bar in Kidderminster, Lichfield, Shrewsbury, Stafford, Stourbridge and Sutton Coldfield.

The firm achieved record results in 2021-2022 and recently opened its 200th site.

For the year to April 17 revenue was a record £237.3 million from £78.3m in 2020-2021 and £166.5m in the mainly pre-Covid 2019-2020.

The pre-tax profit of £21.6m compared to a loss of £14.7m in the two previous years.

A record 27 new sites opened in the year and since year end like-for-like sales have been up 17.9 per cent on a three-year basis.

Lougers expects to grow to have at least 500 sites in the UK across both of its brands in the future.

Chief executive Nick Collins said: “These results demonstrate the extent to which Loungers has thrived over the past year, achieving a record number of openings, record underlying like for like sales growth and a record level of profits.

“We are benefitting from changes in consumer behaviour, with more people staying local, working from home, and supporting their local community and high street. We are delighted to have just opened our 200th site, and to be announcing today that we are increasing our roll-out target for site openings to 30 for this year.

“Whilst the short-term economic outlook is challenging, we are in an excellent position to weather the storm and to take advantage of growth opportunities coming out of it. We have a strong balance sheet, a very capable and highly motivated team and an affordable, value for money all-day offer with enormous scope for further expansion across the UK.”