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2024-07-23 15:23 RNS Number : 1580P Loungers PLC 15 October 2021 Loungers PLC - Trading update Loungers plc ( " Loungers " or the " Group " ) Trading update for the 24 weeks ended 3 October 2021 Loungers , the operator of 150 Lounge cafe - bars and 31 Cosy Club restaurant - bars , today announces a trading update for the 24 weeks ending 3 October 2021 . Our significant outperformance of the market in the period post the commencement of indoor trading on 17 May 2021 has been maintained . Over the 20 weeks to 3 October 2021 , the Group delivered like for like sales growth of 26.6 % , using the period 20 May to 6 October 2019 as the comparator . Whilst trading and the reported like for like sales uplift benefit from the VAT reduction , the continued strength of performance is testimony to the relevance and resilience of our brands . Net debt at 3 October 2021 was £ 11.9m , excluding a further £ 5.6m of outstanding rent and deferred liabilities payable to HMRC . Since the start of the financial year the Group has opened 13 new sites , comprising 12 Lounges and one Cosy Club , taking the portfolio to 181 sites as of today . We expect to open a further 10 sites in the current financial year . Loungers will next update the market on 1 December 2021 when we announce our half year results . Nick Collins , CEO , commented : " Our like for like sales have been consistently strong since re - opening , across all site age cohorts and both brands . In addition , I am particularly pleased with the strength of performance in the new sites we have opened in this financial year . Loungers continues to thrive as we put Covid behind us and manage the current challenges facing our sector . This success reinforces our roll - out strategy and we look ahead with confidence , with our pipeline of future sites as strong as it ever has been . I would like to say a special thank you to our teams across England and Wales for their fantastic performance over what was a demanding summer trading environment . " 15 October 2021 For further information please contact : Via Instinctif Partners Loungers plc Nick Collins , Chief Executive Officer Gregor Grant , Chief Financial Officer GCA Altium Limited ( Financial Adviser and NOMAD ) Tel : +44 ( 0 ) 20 7484 4040 Sam Fuller / Tim Richardson irs.nbtrader.co.uk/ir/Loungers/newsArticle.php?id=311428211249325674&ST=LGRS 1/2