Loungers

“There is no sense of they’re Piper and we’re Management, we are one team. This is testimony to Piper’s style, they are a good blend of people which sits them apart from everybody. They are so insightful and very experienced in the sector”

Alex Reilley, Co-Founder & MD, Loungers

Background

Loungers is an innovative
chain of informal, neighbourhood all-day café bars that provide customers with a ‘third space’ between work and home, to meet, chat, eat and drink in a relaxed atmosphere,
on the 
local High Street.

It was started in 2002 by a trio of longstanding friends, Alex Reilley, Jake Bishop and Dave Reid who opened their first site in Bristol, a city that now supports a total of
six Lounges.

A second chain, Cosy Cub, offers customers a similar solution in city centres such as Bath, Cardiff, Birmingham, Liverpool, Exeter and Bristol.

CIRCO-NIGHT-16-RS

Growing the brand

The team at Loungers wanted to de-risk their personal stakes in the business by selling a significant minority stake. Piper’s investment and support have enabled the business to rapidly scale the Loungers business, taking advantage of unit vacancies and rental deals; undertake demographic analysis of sites to underpin the roll out programme; conduct customer

research to further develop and define the Cosy Club proposition; grow the team; and create a world class development programme for managers using a third party introduced by Piper. Since investment, Loungers have achieved rapid growth, going from 12 sites at investment to over 50 by 2014.

 

 

Achievements

  • The first Lounge site opened in Bristol
  • The first three Cosy Club units are opened
  • Piper invests. Crispin Tweddell, Chairman of Piper becomes Chairman of Loungers. Nick Collins joins the team as Finance Director. A further 5 Lounges and 2 Cosy Clubs are opened. Annual growth + 40%
  • Roll out is accelerated; additional debt facilities raised, menu development and the people development pipeline are a key focus.

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