Loungers hits 100 sites, reports £91.7m turnover: Loungers, the Lion Capital-backed group, has reached the milestone of 100 sites following the opening of Capo Lounge in Mansfield today (Wednesday, 10 May). Capo, which is the group’s 82nd Lounge, has opened in a former Lloyds bank in Stockwell Gate in the town following a £550,000 investment. The 430 square metre space is laid out over two floors and includes 225 square metres of internal trading plus 25 square metres of external trading to the front of the property. The opening coincides with Loungers reporting group turnover for the financial year ending 23 April 2017 increased by 34% to £91.7m (FY16 £68.4m) with Ebitda (excluding pre-opening costs) rising by 49.7% to £12.7m (FY16 £8.5m). The group added 20 new sites in the period and has reported like-for-sales increased by 5.3%. Loungers chief executive Nick Collins said: “Hitting 100 sites is an impressive landmark for the business and we are proud to have achieved this whilst at the same time improving our conversion and posted some decent like-for-likes. We are only as good as the 2,700 people representing us across the UK and our team at all levels has never been stronger. Loungers is in a good place at the moment, our pipeline of secured sites now takes us well into 2018 and whilst I am mindful of the economic uncertainty in the UK, we have every reason to be optimistic about the future.” Loungers chairman and co-founder Alex Reilley added: “It’s a monumental achievement for the business to reach 100 sites and something Jake, Dave, and I would have never considered possible when we opened our first Lounge back in 2002. We’ll allow ourselves some reflection (and probably the odd glass or two) and then get cracking on adding the next 100.” Loungers is due to add to its 18-strong Cosy Club estate with an opening in Worcester in July and further Lounges are due to open in Evesham, Southend, and Rustington in the next couple of months.

Derby Brewing Co signs up to Asset Match: Derby-based brewer and retailer Derby Brewing Co is to start trading on Asset Match, the platform that provides liquidity in private company shares. Asset Match stated: “We are delighted to announce that Derby Brewing Group has appointed Asset Match to organise a secondary market in its shares. The facility will be available to shareholders when the company determines there is a requirement for secondary liquidity. As with all markets on Asset Match, liquidity will be provided via auctions and in a transparent manner to provide effective price discovery.” Derby Brewing Co is currently aiming to raise £500,000 on crowdfunding platform Crowdcube to continue its expansion. The family-run company, founded by Trevor Harris in 2004, is offering a 6.5% stake in return for the investment. So far, 343 investors have pledged £337,800 with seven days remaining. The funding would support the expansion of the brewery, the launch of a craft range and the addition of a new venue to its four-strong estate. The company operates The Tap, a specialist beer and spirit house with more than 75 beers and ciders and more than 70 spirits, in Derby; The Queen’s Head gastro-pub in Little Eaton; smoked food and crafthouse concept The Greyhound in Derby; and The Kedleston Country House, a bar, restaurant, boutique hotel and wedding venue in Quarndon.