Loungers toasts return to trading

Bar chain Loungers has seen sales climb by 27% in the month after returning to indoor trading. The operator said year-on-year sales in the period between 17 May and 13 June were boosted, following a phased and controlled reopening of the estate. Loungers has 173 bars in England and Wales, under the Lounge and Cosy brands. The company said the business was boosted by “significant pent-up demand and the VAT reduction”. In a trading update, it reported net debt at £34.6m, with a further £12.9m of outstanding rent and deferred liabilities to HMRC. Chief executive Nick Collins said: “Whilst the government’s recently announced decision to leave the remaining restrictions in place for a further four weeks is disappointing for the hospitality sector as a whole, we look forward to a return to normality on 19 July.”   To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews