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Loungers PLC on Tuesday said its chief financial officer has informed the board of his intention to stand down next summer. The Bristol-based operator of Lounge, Cosy Club and Brightside cafes and bars said Gregor Grant intends to resign following publication of its financial results for the year ending April 21, 2024. This is pencilled in for July 31, 2024. Loungers Co-Founder & Executive Chair Alex Reilley 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 [initial public offering] in 2019 and of course helping to guide the business through the challenges of the Covid period and the inflation that has followed.’ Outgoing CFO Grant commented: ‘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.’ Shares in Loungers were down 1.7% to 230.00 pence each in London on Tuesday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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