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Recently listed cocktail bar owner Nightcap said it was in negotiations with several new leases inside and outside of London, as it looks to grow its estate to around 40 bars over the next five years.
The company, which had acquired The London Cocktail Club, currently had 10 bars.
'In line with our expectations, the damage done to the property and hospitality sectors by the pandemic is allowing us access to new sites in prime locations with better rents, increased incentives and lower capital costs per site than previously experienced,' it said.
'We are confident of our ability to provide even better returns on our capital employed than historically.'
Nightcap also posted a pre-tax loss of £0.32 million from the period of its incorporation on 23 September to the end of December. No sales were recorded for the period.
At 9:09am: