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News > Business

Richoux makes pre-tax loss for first half of 2011

By Becky Paskin , 23-Sep-2011

Richoux Group, the operator of Richoux, Dean’s Diner and Zippers restaurants, has recorded a pre-tax loss of £2.6m for the first half of the year, despite making a profit of £440k for the same period in 2010.

In the 28 weeks to 10 July 2011, Richoux, which operates 15 restaurants around the country, saw turnover reach £4.4m, up from £2.7m for the same period last year.

The group made a gross profit of £30k during that time, a £300k decrease on the previous year.

During the period Richoux launched a new local Italian brand, Villagio, across four trial sites in Hammersmith, Berkhamsted, Barnet and Andover, the latter two of which have been rebranded from the Zippers format.

The group claims all Villagio sites are trading in line with expectations, but admitted surrendering the lease of its Zippers restaurant in Bexhill-on-Sea following a disappointing performance.

Meanwhile the group’s established four Richoux restaurants in London, Zippers in Chatham and six Dean’s Diners in the South East and West reportedly continue to trade well.

Philip Shotter, chairman of Richoux Group, said: “The group’s established brand, Richoux, continues to trade profitably. Following the significant expansion that the group undertook towards the end of the last financial year the focus has been on trying to improve and develop the group’s other development concepts, while continuing to assess their longer term viability.”

Richoux plans to open a seventh Dean’s Diner in Braintree next month.

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