Rileys Sports Bars reports above expected trading
This was also a third (33.7%) ahead of the group’s target. In addition, Rileys finished the refurbishment of its sites in Coventry and London Victoria before reopening and during the third lockdown.
Furthermore, it also refurbished its Swansea venue last year alongside refits in its Liverpool, Harlow and South Benfleet sites before 2020.
This means half the firm’s estate is now refurbished and the company is set to continue its investment throughout its portfolio to grow further.
Company history
The new look sites also include English and American pool tables and smoker tables. They are also the first of the portfolio to include electronic darts boards, comprising of four lanes where players can choose from a variety of games and battle against each other at the oche for the title of darts king or queen.
Rileys’ heritage dates back to 1878 when Edward John Riley left his banker job and turned his passion for sport into work.
He opened his first sports emporium before starting a manufacturing business, developing new types of sporting equipment.
Weight Partners Capital saved Rileys from administration in 2014 and states it is investing to ensure the company continues to serve long into the future.
Significant change
On its latest results, Rileys CEO Craig Mayes said: “Our strong performance in these first three weeks is down to the team around me.
“We have made significant change to our operating model, which in turn is generating strong sales levels.
“Lockdown three presented a one-off opportunity to make a significant investment in our two flagship clubs in London Victoria and Coventry.
“These clubs were our best performing sites so to see them delivering further growth demonstrates the untapped potential in Rileys.
“This together with strong year-on-year performance in the rest of the business is a fantastic restart post lockdown for our investors, customers and team members.”
