Loungers PLC Directorate Change (8304U)
28 Noviembre 2023 - 1:00AM
UK Regulatory
TIDMLGRS
RNS Number : 8304U
Loungers PLC
28 November 2023
28 November 2023
Loungers plc
("Loungers" or the "Group")
Directorate Change
Loungers, a leading operator of all day café/bar/restaurants
across the UK under the Lounge, Cosy Club and Brightside brands,
announces that Gregor Grant, Chief Financial Officer, has informed
the Board of his decision to step down as Chief Financial Officer
and from the Board following the publication of the Group's results
for the year ending 21 April 2024, with effect from 31 July
2024.
The Board has commenced a search to identify his successor and
expects to make an appointment well in advance of Gregor leaving
the Group in order to allow for a seamless handover of
responsibilities.
Alex Reilley, Executive Chairman and co-founder of Loungers,
commented:
"Gregor has been an integral member of the Loungers leadership
team since joining the business in 2018. During his time here
Gregor has provided consistently strong financial leadership as the
business has more than doubled in size, alongside delivering the
IPO in 2019 and of course helping to guide the business through the
challenges of the Covid period and the inflation that has followed.
I would like to take this opportunity to thank him, on behalf of
the Board and colleagues across Loungers, for his commitment and
enormous contribution over the last five years. He will leave with
our best wishes for his future".
Gregor Grant, Chief Financial Officer said:
"I have thoroughly enjoyed my time at Loungers and am pleased to
be leaving the business in such strong shape, as it continues to
deliver a market-leading like for like sales performance whilst
pursuing its ambitious site roll-out plans. Loungers is a truly
unique business with a fantastic culture, a hugely professional
team, and a clear strategy for future growth. It has been a
privilege to play a small part in the extraordinary success that
the business has enjoyed."
For further information please contact:
Loungers plc Via Powerscourt
Nick Collins, Chief Executive Officer
Gregor Grant, Chief Financial Officer
Houlihan Lokey UK Limited (Financial Adviser Tel: +44 (0) 20
and NOMAD) 7484 4040
Sam Fuller / Tim Richardson
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20
Andrew Godber / John Fishley 3100 2000
Peel Hunt LLP (Joint Broker) Tel: +44 (0)20 7418
Dan Webster / Andrew Clark 8900
Powerscourt (Financial Public Relations) Tel: +44 (0) 207
Rob Greening / Nick Hayns / Elizabeth Kittle 250 1446
Notes to Editors
Loungers operates through its three established complementary
brands - Lounge, Cosy Club and Brightside - in the UK hospitality
sector. A Lounge is a neighbourhood café/bar combining elements of
coffee shop culture, the British pub and dining. There are 205
Lounges nationwide. Lounges are principally located in secondary
suburban high streets and small town centres. The sites are
characterised by informal, unique interiors with an emphasis on a
warm, comfortable atmosphere, often described as a "home from
home".
Cosy Clubs are more formal bars/restaurants offering
reservations and table service but share many similarities with the
Lounges in terms of their broad, all-day offering and their focus
on hospitality and culture. Cosy Clubs are typically located in
city centres and large market towns. Interiors tend to be larger
and more theatrical than for a Lounge, and heritage buildings or
first-floor spaces are often employed to create a sense of
occasion. There are 36 Cosy Clubs nationwide.
Brightside is a roadside dining concept and was launched in
November 2022. The first Brightside location opened on the A38,
south of Exeter, in February 2023, with the second opening in
Saltash near Plymouth in June 2023 and the third in Honiton on the
A303 in August 2023.
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END
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