Nightcap Plc (NGHT.L)

RNS Number : 4497N
Nightcap PLC
30 September 2021
 
30 September 2021
Nightcap plc
("Nightcap" or the "Company" or the "Group")
Third new site for The London Cocktail Club in eight weeks
 
Nightcap (AIM: NGHT) is pleased to announce that it has entered into a lease for a new London Cocktail Club site in Gun Street, central Reading. The site covers an area of approximately 2,861 square feet with a 2:00 am license on Thursdays, Fridays and Saturdays. The site is expected to be open before the end of the calendar year and will have an unrestricted capacity of 230. Following recent new site activity, Nightcap currently has a further five sites in legal negotiations across several of its brands.
The Reading site is the third new site announced in the last eight weeks, with all new sites expected to be open and trading within this calendar year. The Board considers this to be a testament to Nightcap's growing effectiveness in expanding its pipeline of potential London Cocktail Club locations across the UK.
 
Sarah Willingham, Chief Executive Officer of Nightcap, commented:
"It is great to see how quickly The London Cocktail Club is ramping up its roll-out schedule which now includes three new sites announced in just eight weeks. Following the updates on the Group's strong trading announced in June and again in August, Nightcap is continuing to take advantage of the attractive terms being offered in the property market as we deliver on our national roll-out strategy."