Luminar considers future of Chicago Rock Cafe

Luminar is considering the future of Chicago Rock Café and Jumpin' Jaks after what it has described as unsatisfactory performance by these brands.

The two concepts form the company's Entertainment Division, which is now to be reviewed by the board, along with 21 non-core bars which are owned by the company but trade under alternative names.

The planned individual disposal of 53 clubs, also described as non-core, continues apace.

In a pre-close trading update, Luminar announced: "The board has decided to conduct a strategic review of the future of this division including an assessment of the capital and management resources required to improve its performance compared with alternative strategies."

Like-for-like sales for Luminar for the eight week period to 28 February were -4 per cent, giving a full year trend of -4 per cent. "It is anticipated that the results for the year to 28 February 2005 will be in line with expectations," Luminar's statement predicted.

The company is following its stated strategy of refocusing on its profitable branded late-night concepts such as Oceana, Lava and Ignite in a drive to re-invigorate the company's overall performance and deliver higher returns to shareholders.

Luminar has been continuing with the successful roll-out of these brands with its latest openings for Lava and Ignite scheduled soon in Chesterfield, Coventry and Northampton, and new Oceana venues planned for Leeds and Bristol this summer.