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Park Chinois announces pre-tax loss of nearly £6m

22 May 2017 by
Park Chinois announces pre-tax loss of nearly £6m

Park Chinois, the opulent restaurant launched in London's Mayfair in 2015 by veteran restaurateur Alan Yau, has recorded a pre-tax loss of £5.9m for the year to 26 March 2016.

With a décor inspired by the French Rococo period, the restaurant was said by restaurant critic Fay Maschler in her review of Park Chinois to have "allegedly cost in the region of £16m for the purchase and conversion".

The 242-cover Park Chinois has been the most ambitious restaurant opening for Yau, who has previously launched a plethora of venues including noodle bar chain Wagamama and Michelin-starred Chinese restaurants Hakkasan and Yauatcha, which he sold for £30m in 2008.

Turnover for Park Chinois during the period of trading outlined in the financial statement, lodged at Companies House, was £2.6m, with a gross profit of £1.9m.

Directors of the company said that they were "confident" that Park Chinois will be profitable in the "coming years" and "has adequate resources to continue in operational existence for the foreseeable future".

Yau told the Financial Times that Park Chinois, which has its own in-house band, is about "abundance and perfection". The restaurant's website said that it offers an "era of decadence and indulgence".

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