Luminar gets its groove back as clubbers return - Business - Evening Standard
       

Luminar gets its groove back as clubbers return

The weekend millionaires are back. Young folk without mortgages who like dancing and letting their hair down generally are again flocking to Luminar nightclubs on a Saturday night in search of what chief executive Stephen Thomas calls "atmosphere and escapement".

Thomas, who often sounds like he himself has just stumbled out of one of his own clubs (perhaps because he often just has), was able to turn a profit for the year to February of £20million.

That's down from £31 million a year ago but recent signs are good.

The kids - anyone under about 40, according to Thomas - have thrown off pessimistic thoughts about the recession to return to the dance floor. "People are coming back, they are just looking for a deal," he said. "They feel more confident that they can come out and blow a bit of cash."

Luminar owns the Oceana, Liquid and Lava & Ignite brands - mainstays of town centres.

With entry prices of £12 even before drinks, it's not a cheap night out but some take advantage of cheap supermarket booze to "pre-load" before they hit the clubs.

But if the South is jiving again, other areas are still struggling for rhythm.

"The North has been in recession for the last 25 years mate," says Thomas, grimly.

Luminar has had to write off £37million on its investment in the 3D Entertainment Group.

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