Jongleurs plan to float on the stock market

The comedy brand, that helped launch Peter Kay and Michael McIntyre to fame, next plan is to float on the stock market in the next 18 months to finance its development plans.

 

Jongleurs was founded in 1983 by Maria Kempinska, who now plans to open seven new comedy clubs over the next three years. There are also future plans to take the brand over seas and further increase its franchise network.

 

Jongleurs was sold in 2000 to Regent Inns which made Kempinska a multimillionaire. However Kempinska and John Davy regained control of the comedy band following Regent Inns collapse in 2009.

 

They each own one third of the organisation, with the final third owned by finance director Marios Lourides.

 

Before its launch on the stock market, the comedy clubs hopes to attract new investors which will be used for website development and TV pilots. In exchange for £500,000 needed, new investors will hold 11%

 

The organisation also has plans to build on the 2,000 stand-up acts it already employees, hoping to build a global database of acts. Jongleurs are also predicting a rapid increase in turnover, currently at £1.9million, the organisation hopes that by 2013 it will have reached £10.3million.