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Sports Café rollout planned, despite losses
Coliseum Group, which acquired The Sports Café Group in December last year, has reported static turnover and a loss in operating profits.
In interim results for the six months to 30 June 2002, Coliseum has matched the 2001 turnover of £3.3m, but seen its operating losses grow from £176,000 in 2001 to £629,000 in 2002.
The company currently operates Sports Cafés in London, Birmingham and Cardiff, however the Cardiff venue has been closed since 8 April for relocation from Cardiff Bay to the city centre.
The London Sports Café, refurbished in May to enhance its nightclub offering with new audio-visuals, soft furnishings and dance floor, has seen like for like sales increase by 12 per cent, while sales at the Birmingham venue, which saw the opening of a basement pool lounge in April, were consistent with 2001 levels.
Chair, Ian Lenagan, is enthusiastic about the chain's future, however: 'This has been a transitional six month period for Coliseum, but new venues are opening soon and the possibilities for potential sites looks excellent.'
Three more sites are in the pipeline, with the first, a two-floor, 19,000sq ft venue in Manchester opening in November. With a capacity of 1,750, the Sports Café will have six bars, a restaurant, more than 100 plasma and television screens, a dance floor and pool lounge.
The opening of a site in Newcastle, due to open in autumn 2002, has been delayed due to structural problems with the building but is expected to be completed by next summer.
Sports Café Leeds will also open in the summer 2003, after Coliseum recently signed a 25-year lease for a 15,000sq ft, three-storey venue.
A spokesperson for Coliseum said: 'The Sports Café venues are profitable from day one so there is no question of returning to the market to get more money to fund the rollout.' The group hopes to have 10 units by the end of next year and is reported to have shown an interest in acquiring sites from Old Monk, the pub operator which recently announced that it had called in administrators. Details: +44 (0)20 7643 5360