Loungers (LGRS)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM 100

279.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 286.00p
  • 52 Week Low: 182.50p
  • Currency: UK Pounds
  • Shares Issued: 103.83m
  • Volume: 8,818
  • Market Cap: £289.68m
  • RiskGrade: 184

Loungers hoping to revive the A-road diner with new brand

By Josh White

Date: Monday 07 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Cafe, bar and restaurant operator Loungers announced the launch of a new roadside diner brand Brightside on Monday.
The AIM-traded firm said it saw "great potential" to "reinvigorate" roadside dining in the UK, which it said had become "tired and uninspiring".

It had acquired three initial sites, with the first set to open on the A38 south of Exeter in February.

Further sites will open on the A303 near Honiton, and on the A38 near Saltash, next spring.

Loungers said it believed there was scope to develop a "truly national brand", and had plans to roll out Brightside across the UK in the coming years.

It said it envisaged that sites would be situated predominantly on A-roads, and would focus on bringing "genuine hospitality" back to a sector that had been dominated by drive-thru and quick-service restaurant concepts in recent years.

Brightside would offer a freshly-cooked menu of comfort food dishes in "nostalgic surroundings".

"We've had the itch for a while now to create a roadside restaurant concept that's fit-for-purpose in the 21st century," said Loungers founder and chairman Alex Reilley.

"For many people, the highlight of childhood road trips in days gone by was a stop at the likes of Little Chef.

"We believe there is a gap in the market for a fresh concept that gives customers the option to take a proper break and enjoy wholesome food and great hospitality, in a landscape that is currently dominated by drive-thru and quick-service restaurant formats."

Reilley said Brightside would have a "contemporary, welcoming, and warm feel", while also evoking nostalgia for a time when motoring in the UK was a "more exciting" experience.

"We want it to be an integral part of our customers' journey-planning, and something both adults and children alike look forward to.

"We believe that Brightside will really shake up what has become an uninspiring sector and that there is potential to roll out Brightside across the UK in the coming years.

"Our expertise in high-quality, great value all-day dining, developed through Lounge and Cosy Club, gives us confidence that Brightside can bring proper hospitality back to roadside dining across the UK."

At 1034 GMT, shares in Loungers were up 0.77% at 195.5p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Loungers Market Data

Currency UK Pounds
Share Price 279.00p
Change Today -1.00p
% Change -0.36 %
52 Week High 286.00p
52 Week Low 182.50p
Volume 8,818
Shares Issued 103.83m
Market Cap £289.68m
RiskGrade 184

Loungers Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.65% below the market average77.65% below the market average77.65% below the market average77.65% below the market average77.65% below the market average
76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average
Price Trend
85.92% above the market average85.92% above the market average85.92% above the market average85.92% above the market average85.92% above the market average
92.73% above the sector average92.73% above the sector average92.73% above the sector average92.73% above the sector average92.73% above the sector average
Income Not Available
Growth
11.61% above the market average11.61% above the market average11.61% above the market average11.61% above the market average11.61% above the market average
49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average49.02% below the sector average

Loungers Dividends

No dividends found

Trades for 23-Jul-2024

Time Volume / Share Price
09:00 1,200 @ 270.00p
09:00 1,200 @ 270.00p
08:21 1,708 @ 276.00p
08:21 460 @ 276.00p
08:17 456 @ 278.00p

Loungers Key Personnel

CEO Nick Collins
CFO Stephen Marshall

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