Celebrity chef doubles Irish revenue to €2m
REVENUES at the Irish hotel venture owned by celebrity chef Richard Corrigan last year more than doubled to £1.8m (€2m).
That is according to new accounts filed by Mr Corrigan’s UK-based firm, Richard Corrigan Restaurants Holdings Ltd, which show that the sharp increase in Irish revenues contributed to overall revenues going up by 8pc to £10.8m.
The group last year broke even recording a modest pre-tax loss of €6,460 – this takes account of non-cash depreciation costs of £690,079.
Mr Corrigan has ploughed millions into his Virginia Park Lodge venture in Co Cavan.
In an interview yesterday, Mr Corrigan said that the investment – including the purchase price – now stands at around £6m “and it will go further”.
The operation in Cavan employs around 50 and Mr Corrigan said that he was happy with how the business performed there last year. “We are taking it gently and we are moving forward with the project in the right way,” he said.
The chef said that he has dedicated his life to the project over the past four years and spends every weekend there. “There is another three years investment in the property,” he said.
Mr Corrigan’s UK revenues last year dipped marginally from £9m to £8.98m.
Mr Corrigan operates Bentley’s Oyster Bar and Grill, Corrigan’s Mayfair and Bentley’s Sea Grill at Harrods in London, the jewel in the crown of Mr Corrigan businesses – it enjoyed profits of more than £360,000.
Mr Corrigan’s 28-year-old son Richard is a manager at Corrigan’s Mayfair. “Richard is very talented. It is a real family business,” said Mr Corrigan.
He added that he is dealing with massive increases in rent and rates for his London restaurants this year.