Search results for “brightside”

Loungers launches Brightside restaurant as it looks to reinvigorate roadside dining

7th November 2022

Café-bar and restaurant operator Loungers has announced the launch of a new roadside restaurant brand called Brightside. The first location will open on the A38, south of Exeter, in February 2023, with a further two locations to open in the spring, on the A303 near Honiton and on the A38 near Saltash. Brightside will sit alongside Loungers’ two existing brands, Lounge and Cosy Club, as the restaurant operator looks to “reinvigorate roadside dining in the UK”. Loungers said it “believes there is scope to develop a truly national brand” and has expressed an ambition to expand the Brightside brand to all parts of the UK in the next few years. Loungers aims to open its sites predominantly on A-roads and will “focus on bringing genuine hospitality back to a sector that is dominated by drive-thru and QSR (quick-service restaurants) concepts in recent years.” Brightside will offer a menu of “classic, comfort food-style dishes”, including a brunch menu, burgers, pizzas and a kid’s menu. Loungers hopes the restaurants will appeal to a wide range of customers including families, locals, and UK holidaymakers. Alex Reilley, Founder Chairman of Loungers, said: “We’ve had the itch for a while now to create a roadside...

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Loungers opens fourth Brightside restaurant

28th November 2024

Hospitality group Loungers has opened its fourth Brightside roadside restaurant at the Ram Jam services in Rutland. Located along the main route between Peterborough and Grantham, the new restaurant forms part of a purpose-built retail development comprising four units, adjacent to a petrol station and a bakery. Brightside – which was launched by Loungers as a means to “reinvigorate roadside dining in the UK” – opened its first three restaurants last year, located in Exeter and Honiton, Devon, and Saltash, Cornwall. Charlie Jones, operations manager at Brightside, said: “We are delighted that our Brightside experience, and our unique reinterpretation of roadside dining, is now available for those heading north. “Ram Jam Services is an incredibly popular stop off for many motorists so this a great opportunity for us to offer them something new and really exciting. “Brightside Ram Jam is on a popular route, only 15 minutes from Rutland Water which attracts almost two million visitors every year. “As well as catering to travellers we are also an excellent choice for those who live nearby, so we’re looking forward to meeting lots of locals too.” Loungers also operates the Lounges and Cosy Club brands. Earlier this year, the group’s chair...

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Loungers eyes at least 600 sites

12th July 2023

Loungers has said it has identified potential for at least 600 sites across the UK. The Lounge, Cosy Club, and Brightside operator said it had identified a “strong pipeline” of new sites, with the capacity to open a record 34 openings next year. This comes as the group posted its results for the year ending 16 April 2023, during which it opened its 200th site at Cosy Club Chester. It ended the 2023 financial year with 222 total sites, which included the opening of its first Brightside roadside restaurant near Exeter. A second Brightside restaurant recently opened near Saltash, while a third is expected to open near Honiton in early August. Loungers said it had been “encouraged” by how Brightside has traded and remains “excited” by its potential. Loungers said the 2024 financial year would be “overwhelmingly dominated by Lounge openings”. It added that it would open its first sites in the north east. The Lounge chain itself is expected to reach 200 sites by the end of the financial year. Loungers also said it would be “selective” of new Cosy Club sites, as it looks forward to opening its first in Oxford, a city the group sees hosting four...

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Loungers celebrates landmark opening amid expansion

13th September 2023

Restaurant and bar operator Loungers has opened its 200th Lounge site in Buckingham, as the group continues to expand. The opening of the Verdetto Lounge means the group, which also owns the Cosy Club and Brightside chains, now has a total estate of 238 sites. In July, the group said it had identified potential for at least 600 Lounges across the UK, and had announced that it intends to open 34 news sites across its three brands in the current year alone. Loungers had said it would remain “disciplined” in its approach to opening new Cosy Club and Brightside sites, with its overall strategy remaining focused on opening new Lounge sites. The group said that each new Lounge opening results in an investment of nearly £1m into the local high street as well as the creation of up to 30 new jobs on average. Alex Reilley, chairman and co-founder of Loungers, said: “To be opening our 200th Lounge is a fantastic landmark, but there is lots more for us to go for. We firmly believe that there is scope to have at least three times that number of Lounges in the longer term, and we are more ambitious than ever before about our...

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Loungers continues roll-out with four new sites

14th November 2023

Loungers has opened four new sites as it continues its expansion programme, which the operator says is “firmly on track”. The group has opened three new Lounge sites as well as a Cosy Club in Oxford in recent weeks. The three Lounge sites are Alfredo Lounge in Louth, Lincolnshire, which is part of the former Eve & Ranshaw department store; Bordo Lounge in Carlisle, which sits in a former Topshop; and Muro Lounge in Hexham, formerly an Argos. The Oxford location is Loungers’ 36th Cosy Club. Loungers – which also owns the Brightside roadside dining concept – now has an estate totalling 242 sites, and said it is on track to open 34 sites in the current financial year. The group said earlier this year that it sees potential for 600 sites across the UK. Nick Collins, CEO of Loungers, said: “Our accelerated site roll-out plan remains firmly on track, and we’re delighted with the four new sites that we’ve opened in the last few weeks. It’s particularly pleasing to be increasing our presence in the north through the openings in Carlisle and Hexham, and we see significant potential for more sites in both the North West and the North East. “It’s also...

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Fortress’ Loungers takeover sanctioned by High Court

7th February 2025

The takeover of hospitality group Loungers by US private equity firm Fortress Investment Group’s is set to go ahead after being sanctioned by the High Court. An initial agreement between Loungers and Fortress – which also owns the Poundstretcher and Majestic Wines brands – was reached in November 2024, valuing Loungers for almost £340m. However Fortress submitted a higher offer in January. The newer offer, which values Loungers at around £366.6m, was then approved by the operators’ shareholders. Loungers operates over 280 sites across the Lounge, Cosy Club, and Brightside brands. Fortress previously said it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of its growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market.

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Loungers shareholders approve £354.4m Fortress takeover

31st January 2025

The shareholders of Loungers have backed a takeover by American private equity firm Fortress Investment Group which values the café and bar operator at over £350m. Fortress’ offer values the entire issued, and to be issued, ordinary share capital of Loungers at approximately £354.4m, with an enterprise value of around £366.6m. Loungers operates over 280 sites across the Lounge, Cosy Club, and Brightside brands. Fortress previously said it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of its growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market. An initial agreement between Loungers and Fortress – which also owns the Poundstretcher and Majestic Wines brands – was reached in November 2024, valuing Loungers for almost £340m. However Fortress submitted a higher offer earlier this month. Speaking in November, Alex Reilly, chair of Loungers, said: “We are more ambitious than ever and we see Fortress as being an ideal partner to help us take Loungers into the next phase of its growth journey. We believe that the acquisition represents a compelling proposition for...

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Fortress Investment Group increases offer for Loungers takeover

15th January 2025

Fortress Investment Group has reached an agreement with the board of Loungers to acquire the hospitality group after submitting an improved offer worth over £350m. In November, the two parties had reached an agreement for Fortress to acquire Loungers for almost £340m. However, the new offer values the entire issued, and to be issued, ordinary share capital of Loungers at approximately £354.4m, with an enterprise value of around £366.6m. This represents a premium of 36.6% compared to Loungers’ closing share price before the original bid was made. Fortress – which also owns the Majestic Wines and Poundstretcher brands – said in November that it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of the group’s growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market. Loungers operates over 280 sites across the Lounge, Cosy Club, and Brightside brands. Alex Reilley, chair of Loungers, said: “We are very pleased that Fortress has decided to increase its offer, making it even more compelling for Loungers Shareholders and reinforcing the Loungers Directors’ recommendation that they should vote...

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Investment group agrees £340m Loungers takeover deal

29th November 2024

An investment group which owns the Majestic Wines and Poundstretcher brands has agreed a deal to acquire hospitality group Loungers for almost £340m. Fortress Investment Group has agreed to pay 310 pence per share for Loungers, which operates the Lounge, Cosy Club, and Brightside restaurant and bar concepts. This offer values the entire issued, and to be issued, ordinary share capital of Loungers at approximately £338.3m, with an enterprise value of around £350.5m. This represents a premium of 30.3% compared to Loungers’ closing share price before the bid was made. Fortress – which acquired Poundstretcher in April – said it believes it is a strong partner for Loungers, its management team, its employees and its other stakeholders in the next stage of the group’s growth journey. The investment group added that it believes in Loungers’ growth prospects, and the future of experience-led retail and hospitality offerings in the UK market. This comes as Loungers announces its results for the first half of the 2025 financial year, during which it recorded an increase in revenue of 19.2%, bolstered by 4.7% like-for-like sales growth and a net increase in sites of 35. The group – which operates over 280 sites – also saw...

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Loungers: Property availability has “never been better”

9th July 2024

The chair of Loungers has said that property availability has “never been better”, as the bar and restaurant group achieves a record year of openings. Alex Reilley said the “well-documented” struggles of the UK high street have allowed the group to negotiate favourable terms. He added that bank closures are also providing “excellent prime pitch locations” in towns and suburbs nationwide, with openings in Nantwich, Ashby-de-la-Zouch, and Yeovil all examples of this. This comes as the group – which operates 244 venues across the Lounge, Cosy Club, and Brightside brands – releases its results for the 2024 financial year, during which it opened a record 36 new sites. This also contributed to a record high revenue of £353.5m and an operating profit of £20.3m during the period, which comprised the 53 weeks ending 21 April. Since the year end, the group has opened six Lounges and acquired the Pitcher and Piano sites in Bristol and Sheffield, which are being converted into Lounge and Cosy Club venues respectively. Nick Collins, chief executive officer of Loungers, said: “This has been another year of outstanding strategic, operational and financial progress for Loungers. Our consistent and market-leading like for like sales growth coupled with...

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Completely Retail Marketplace: cause for optimism as market heats up

1st May 2024

Spirits were high at the Completely Retail Marketplace event on 30th April, as activity in the retail and leisure property market shows no signs of slowing down. There was a buzz at Old Billingsgate, as an attendance of over 1,500 property professionals, retailers, and occupiers demonstrated a continuing demand for space in a market which has taken somewhat of a beating over the last few years. One retailer said that despite “a lot more optimism in the market”, the issue now is being able to find enough space to open new stores, as a desire to expand into untapped markets is hindered by the unavailability of suitable, and large enough, retail units. This view was echoed by one agent, who said that high demand means there simply isn’t enough space to let at times, save for some small pockets of development. Business rates also remained high on the agenda, with some occupiers put off by the UK’s demanding rates system. Despite this, some food and beverage operators are finding alternative ways to meet their requirements. Loungers, the company behind the Lounge, Cosy Club, and Brightside concepts, said its strategy involved targeting “unfashionable” high streets. The group opened 36 sites last...

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Loungers hails record year of expansion

26th April 2024

Loungers opened 36 new sites during the 2024 financial year, a record for the restaurant and bar operator. These openings comprised 33 Lounges, one Cosy Club, and two sites for the group’s roadside concept Brightside. As of 21 April 2024, the group’s portfolio totalled 257 sites. Loungers also opened a Lounge site post-period end in Ely, Cambridgeshire. Last year, the group said it had identified potential for at least 600 sites across the UK. During the 2024 financial year, Loungers delivered a record revenue of £353.5m, a year-on-year increase of 24.7%. Across the period, like-for-like sales were up by 7.5%. Nick Collins, Loungers CEO, said: “I am delighted with our performance over the year. We have consistently out-performed the sector on a like for like basis whilst having delivered a record 36 new site openings. As ever, it’s our continued focus on menu innovation, value for money and exceptional hospitality that is driving the strength of our performance in both the mature estate and our new openings. “As we start the new financial year we are looking ahead with optimism. Our experience suggests that the UK economy is holding up well and we are well positioned to deliver continued growth.”

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Loungers opening one new site every 10 days this year

18th April 2024

Loungers has continued its rapid site rollout, having opened a new location every 10 days so far this year. The hospitality group – which owns the Lounge, Cosy Club, and Brightside brands – now operates a total of 257 sites. Over the past three months, the group opened new ‘Lounges’ in Bromsgrove, Chepstow, Macclesfield, Westwood Cross, Bracknell, Ilkley, Sidcup, and Yeovil. The new locations range from brand new developments to former banks, retail outlets, and restaurants in high street locations. Loungers said that each new site represents nearly £1m invested into the local high street. Last year, the group said it had identified potential for at least 600 sites across the UK. Alex Reilley, chairman and co-founder 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.”

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Loungers celebrates 250th site opening

29th January 2024

Loungers is celebrating reaching 250 sites across its Lounge, Cosy Club, and Brightside brands, with the opening of Pionero Lounge at Riverside in Rochdale. The 3,080 sq ft venue comprises two combined units, following an extensive refurbishment. Loungers’ arrival at Riverside follows the opening of Starbucks at the scheme in 2023, further adding to the scheme’s food and beverage offering. The centre saw footfall reach over 1.6 million in 2023, a 8.5% increase year-on-year. This comes after the group stated its belief that there is scope for at least 600 Lounge sites across the UK, with Loungers on track to open 34 new sites in the current financial year. Since announcing its interim results in November, the group has opened new Lounges in Cramlington, Penrith, Paignton, Caerphilly, and Ashby-de-la-Zouch. Further openings are scheduled in the coming months including in Bromsgrove, Chepstow, Westwood Cross, Macclesfield, Bracknell, Ilkley, Sidcup and Yeovil. The sites range from new developments to former banks, retail outlets, and restaurants. Alex Reilley, chairman and co-founder of Loungers, said: “The opening of our 250th site is a hugely satisfying landmark for a business that started in 2002 in Bristol with a single cafe-bar called The Lounge. A lot has changed since then but our commitment to providing...

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Loungers to open in South Wales shopping centre

6th November 2023

Loungers is gearing up to open Consurio Lounge at Castle Court Shopping Centre in Caerphilly, South Wales, this December. The name – consurio meaning ‘conjuring’ in Welsh – is a nod to comedian and magician Tommy Cooper’s home town. James Taylor, asset manager at ESTAMA UK, said: “We are absolutely delighted to be welcoming Loungers to Castle Court Shopping Centre. Loungers are a superb occupier who will enhance the offer that the shopping centre provides to the town and community. This is a real show of faith in the town as it embarks on exciting regeneration plans.” In October, Loungers – which owns the Lounge, Cosy Club, and Brightside brands – said it is on track to open a total of 34 new sites during the 2024 financial year – a record number for the group. EJ Hales acted on behalf of ESTAMA.

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Loungers on track to open a record number of sites

13th October 2023

Loungers has said it expects to open a total of 34 new sites during the 2024 financial year – a record number for the group. The café, bar, and restaurant operator opened 16 sites during the first half of the financial year across its Lounge, Cosy Club, and Brightside brands, compared to 11 openings during the same period the previous year. The group has opened one site to date in the second half of the year, with another 17 lined up before the year end. This comes as the group releases a trading update for the 24 weeks ending 1 October 2023, a period during which Loungers saw like-for-like sales growth of 7.7%. Compared to the 24 weeks ending 6 October 2019 (pre-pandemic), like-for-like sales were up 25.0%. During the period, the group delivered total revenue of £149.6m, up by 22.3% on the previous year. Loungers said that inflationary pressures are continuing to diminish in line with its expectations. Nick Collins, CEO of Loungers, said: “I am delighted with our strong trading performance across both the mature estate and our new openings. Our consistent sales growth reflects the continued evolution of our offer and the resilience of the UK consumer...

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Two national brands sign up to Rutland roadside development

8th June 2023

Property developer Godwin has secured both Costa Coffee and restaurant brand Wendy’s to its Rutland roadside development, Ram Jam Services. Costa has taken a 1,788 sq ft unit, while Wendy’s has signed up for a 3,305 sq ft space through its franchisee Blank Table. The signings at the Rutland development follow the recent letting to Loungers, which agreed to open in a 4,500 sq ft unit for its new Brightside roadside dining concept. The service station sits alongside the main route between Peterborough and Grantham, adjacent to an existing petrol station and a new bakery. The site is also 15 minutes away from Rutland Water, one of Europe’s largest man-made lakes. Godwin says the site sees around 41,500 vehicles pass by daily, with the area and wider county attracting nearly 1.9 million annual visitors. Following the recent lettings, there is now only one unit comprising 754 sq ft available on the site. Claudine Tracey, associate director of commercial development at Godwin, said: “The site has always been prime for a thriving roadside destination, therefore it is fantastic to be able to bring new amenities and consumer choice for the local community and passing motorists here.” Construction of the development is...

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Watch the Innovation Studio: Reinvigorating roadside

10th May 2023

Drive-through restaurants are now used by a “variety” of customers, not just “people on the go”, said James Hamilton, property and store development director at Costa Coffee. “It is not just people on the go, it is remote workers especially, it’s kids after school, it’s families”, he added, speaking at Completely Retail Marketplace’s Innovation Studio session, ‘Reinvigorating roadside’. “They’re just really convenient, accessible, clean, and safe. I think that’s why they’ve been such a huge growth engine.” He was joined by Alfred Bartlett, founder of Ogle Property, who said that the story was different for quick service restaurants (QSRs), which require a “settled catchment”. QSRs need good traffic flow, visibility, accessibility, and nearby complementary users, he added. This was in comparison to more “transient” forms of roadside retail, such as coffee shops, which can benefit more from passing traffic. Other topics at the discussion, which took a look at how roadside dining has changed, included staffing issues, electric vehicle charging, old roadside favourites, and new contenders such as Brightside. Watch the full Innovation Studio session above.

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Loungers to open first North East site

11th April 2023

Loungers is set to make its regional debut in the North East with the opening of Muro Lounge in Hexham, Northumberland. The group, which operates the Lounge and Cosy Club brands, as well as roadside dining concept Brightside, now operates over 200 sites nationwide. Muro Lounge will occupy a 8,484 sq ft former Argos site on Fore Street and is set to open in August. The restaurant group has submitted an application to create an outdoor seating area as well as for an alcohol licence for 10am to 12pm daily. Last year, the group’s CEO Nick Collins said the North East was an area of interest following openings of Lounge in Northallerton, Ripon, and Scarborough, all in North Yorkshire. The brand is set to open its Bianco Lounge in Leeds in May.

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Loungers to open second Leeds site in three months

4th April 2023

Loungers is preparing to open its second Leeds café in three months with the launch of Bianco Lounge at White Rose Shopping Centre. Its launch on 17 May follows that of Caballero Lounge, which opened in nearby Thorpe Park in February. Loungers also operates the Cosy Club and Brightside roadside dining brands. Gemma Irwin, community manager at Loungers, said: “We’re looking forward to opening Bianco Lounge in Leeds. We hope our family friendly environment and top-notch food and drink offering will prove popular.” Steven Foster, centre director at White Rose, added: “The Bianco Lounge is a perfect addition to our existing mix, offering a relaxed environment for our visitors to enjoy all-day dining and delicious drinks.”

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