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Sales tumble at Luminar entertainment division

22 March 2006
Sales tumble at Luminar entertainment division

Like-for-like-sales at Luminar's entertainment division, which contains the Chicago Rock Café chain, have nosedived 6.2%.

Luminar said increases in rent, rates and utility costs had hurt net profit at the division.

In January it reported that punters had deserted its Jumpin' Jaks bars during the normally busy Christmas period.

Last year the company put its entertainment division on the market, but withdrew it in July 2005 after it failed to attract high enough bids.

Since this time the division has been ring-fenced from Luminar's core nightclub business.

In its pre-close statement for the year to 2 March, the company said like-for-like-sales in its dancing division increased 2.9% year-on-year.

At branded units, such as Liquid, like-for-like sales leapt 9.3%.

During the year the company disposed of 64 non-core assets to the value of £56.4m.

The company's full year results will be released on 18 May 2006.

Mixed Christmas for Luminar >>

Luminar entertainment division not for sale >>

Luminar remains optimistic despite no offers for entertainment division >>

By Chris Druce

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