Brighton students are drinking less than expected, according to a bar company as it published a disappointing trading statement.
And it could cost jobs as the company, Eclectic, cuts costs – even though bookings over Christmas and the new year are showing encouraging signs.
Eclectic owns the bar and eaterie Dirty Blonde in East Street, Brighton, the cocktail bar and club Lola Lo, also in East Street, and the Coalition night club on Brighton seafront.
The company said: “During the company’s first quarter, trading was in line with expectations.
“However, the second quarter, which includes the important October period when students return to university, is proving more difficult.
“The company has experienced three main challenges which have negatively affected its result for this period
- University undergraduates nationwide have been less active across the marketplace during the freshers weeks and have been less predictable
- There has been increased and intense competition in a number of specific locations
- Additionally, because of the above factors, two of our new openings, Lola Lo in Derby and Dirty Blonde in Brighton, have not performed as projected
“Trading is stabilising, albeit at a lower level than expected.
“The management team have undertaken various mitigating actions and are actively assessing the new trends and the cost base is being reduced to match demand, as appropriate.
“On a more positive note, bookings for Christmas and new year are looking strong, in particular for Lowlander, Dirty Blonde and Manchester Lola Lo.”
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