Loungers enters next phase of growth with help from Santander

Bristol-based business Loungers has opened its 19th café bar, in Southampton and commenced work on its 20th, in Stamford, Lincolnshire, after securing a new financing deal with Santander Corporate Banking to support their growth ambitions.

Santo Lounge is now open on Shirley Road in Southampton and is the second venue in the city. Work has already started on the Stamford site, which is due to open in late October under the ‘Cosy Club' brand name. Loungers manage both the original ‘Lounge' concept; casual food-led café bars, as well as the more recent Cosy Club restaurant bar initiative, in locations around the South and South West of England and Wales.

Loungers opened its first lounge in Bristol in 2002 when three friends, who felt their community was missing a friendly and relaxed food and drinks venue, decided to go into business together. The business has grown year after year and now has sites in a number of cities and towns including Bath, Birmingham, Bournemouth, Cardiff, Plymouth and Reading. Loungers aims to have 32 sites by mid-2013 and as part of this ambition, has now secured several new sites, including Exeter, Hove and Salisbury.

Alex Reilley, Managing Director and co-founder of Loungers, said: "We were looking for a banking partner with an appetite to support us through the next phase of our growth and Santander has displayed a genuine desire to do that. Our goal is to have 32 sites by the middle of 2013 and with our new facility from Santander, we can push ahead with these plans."

Jo Honess, Relationship Director, Santander Corporate Banking, said: "Loungers is a fantastic business that has shown really strong and consistent growth over the last nine years. I'm delighted we have been able to support them with the next stage of their plans. At Santander we're keen to build relationships with strong and ambitious businesses and our new agreement with Loungers is an excellent example of this."

For more information on Loungers, visit their websites at thelounges.co.uk and cosyclub.co.uk.