Luminar looks to more nightclubbers to stem losses
LOSS-MAKING nightclub and bar operator Luminar today said it had seen an improved performance in recent months by encouraging more revellers through its doors.
The group, which made losses of £188m last year and runs Oceana clubs in Birmingham and Wolverhampton, and a Liquid venue in Nuneaton, will tell shareholders at its annual general meeting that despite a “highly competitive” marketplace it has stemmed its decline in sales.
The Milton Keynes-based chain said that same outlet sales for the 18 weeks in the financial year to July 2 are down by 11.7% while the fall in the nine weeks to July 2 were down by 9.7%.
Luminar said that it was responding to competition by introducing initiatives to drive up its admission numbers.
The group now has seven Jongleurs comedy clubs with another five in the pipeline and it has opened five WooWoo Bars next to its existing clubs with an additional four due to open over the coming months.
It said these moves were helping to attract customers outside its traditional 18 to 24-year-old target market.
Luminar said “constructive discussions” with its banking group were continuing over the restructuring of its debts.
It has a £99m lending facility with its banking group, which comprises Lloyds TSB, Barclays Capital and RBS.
