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Richard Corrigan’s Restaurants Suffer Profit Loss After 2012 Olympics

Published on Oct 9 2013 11:38 AM in Restaurant

Richard Corrigan’s Restaurants Suffer Profit Loss After 2012 Olympics

Irish celebrity chef Richard Corrigan has said his restaurant business recorded pre-tax profits of £545,030 (€645,834) after taking “a terrible kicking from the London Olympics”.

However the Meath man insists that he was "pretty happy" about how the business performed last year.

He said revenues were down at his London restaurants by about 20c% to 25 % last summer due to the Olympics. He said he had taken on additional staff in anticipation of business from the event that never materialised. “To perform the way we did after the Olympics was absolutely incredible. I have an amazing team here and we stormed back".

Richard Corrigan Restaurants Holdings Ltd that show revenues at his business last year dipped by 1% from £9.13m (€10.8m) to £9.04m.

The figures show that pre-tax profits at the group – which operates three London restaurants – decreased by 32%, going from £802,339 to £545,030 (€645,834).

Corrigan added that "the Olympics was fantastic for London, but as far as my business was concerned, the Olympics was a damp squib."

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