Cavan sales spike not enough to push chef Richard Corrigan’s group back into black
Celebrity chef’s group comprises Virginia Park Lodge, Bentley’s and Corrigan’s Mayfair
Chef Richard Corrigan’s group has accumulated losses of about €1.5 million. Photograph: Brenda Fitzsimons
A bounce in sales at celebrity chef Richard Corrigan’s Irish operations, which include the Virginia Park Lodge in Cavan, helped overall revenues at his group of companies rise by 8 per cent to £10.8 million (€12.1 million).
Despite this, however, the group, Richard Corrigan Restaurants, just about stayed in the red. A tiny net loss in its recently-filed 2016 accounts of about €1,000 was an improvement on the €100,000 loss from the previous year.
Mr Corrigan’s group comprises the Virginia property, as well as his two London establishments, Bentley’s and Corrigan’s Mayfair. All three, including the Irish business, are operated through British subsidiaries.
Accounts for Virginia Park Lodge show sales doubled to €1.8 million last year, but the property made an operating loss of more than €400,000 and now sits on accumulated losses of about €1.5 million.
Staffing numbers at the boutique Cavan country estate rose by about 20 to more than 50 however, indicating a significant pick-up in business during 2016, even if while making a loss.
Bentley’s is the main driver of the Cavan chef’s empire, and sales last year grew to £6 million (€6.7 million), with profits of more than £360,000 (€403,000). Another restaurant company in the group, presumably his Mayfair operation, broke even on sales of £3 million (€3.3 million).
Mr Corrigan has been contacted for comment.