[ad_1]
Loungers coffee bar operator will float on the London junior market this month as it aims for a new phase of growth including numerous site openings.
Founded in 2002, the chain now trades in 122 salons nationwide, as well as in 24 Cozy clubs.
In a statement announcing its intention to float in the alternative investment market (AIM), the company said that a listing would strengthen its profile and allow some of its existing lenders to cash in their investments.
Private equity firm Lion Capital holds a majority stake in the company, but no director should sit on the board after admission.
Managing Director Nick Collins said the initial public offering would provide the group with an appropriate capital structure to pursue its expansion plans.
The lounge chairs will add 25 medium-term sites per year, including five Cozy clubs and other lounges.
According to an independent badysis by the CACI planning consultant for the group, there would be room for more than 400 salons and 100 Cozy clubs in the UK.
Loungers is the only growth operator in the UK hotel industry all day
Nick Collins, Executive Director
"Loungers is the only scale operator expanding all day in the UK hospitality industry," Collins said.
"Our relaxed, home-grown proposal, which combines a café, pub and restaurant in our two complementary brands, Lounge and Cozy Club, resonates with the current consumer and attracts broad demographic appeal in a wide range of venues. trading. "
Admission to the market is expected to take place by the end of April.
Press Association
[ad_2]
Source link
