The Caterer

Gourmet Holdings suffers setback after London terror attacks

31 March 2006
Gourmet Holdings suffers setback after London terror attacks

Restaurant company Gourmet Holdings suffered a set-back in the first half of its financial year as customers stayed away from its Richoux restaurants after July's London terror attacks.

Despite this, the company is pushing ahead with its plans to roll out the Richoux restaurant brand beyond London.

In the six months ending January 2006, company turnover was £5.6m compared with £5.35m a year ago.

Gross profit fell 37% to £430,000 from £680,000 due to the fall in customers after the terror attacks.

As a result, Gourmet made a loss before tax of £160,000, compared with profit the year before of £310,000.

The groups other brand the Bel and the Dragon gastro pubs performed in-line with expectations. A roll-out in urban and semi-urban areas is being considered.

Two underperforming sites were disposed of and trading at the new Reading site was described as "encouraging".

Nigel Whittaker, chairman of Gourmet Holdings, said: "The company owns two excellent restaurant brands both of which have the capability of being rolled out."

By Emily Manson

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