Bewley’s Café on Grafton Street returned to profit in 2022, recording a profit of just over €1m. This was a significant turnaround from the previous year, when the company incurred a loss of €1.73m.
The café’s turnover experienced a substantial increase, almost tripling from €1.18m in 2021 to €3.37m in 2022.
Despite the improved financial performance, Bewley’s Café still faces substantial liabilities. Its net liabilities amount to approximately €20.3m, slightly lower compared to the previous year’s figure of €21.3m.
The company has outstanding liabilities amounting to nearly €15m, with the majority being “amounts due to group companies” totalling €13m. Additionally, there are loans totalling €1.15m that need to be repaid.
Auditors, KPMG, have stated that Bewley’s Café is a “going concern” considering the company’s ability to continue operating. They have reported that the director expects to have adequate resources to sustain the business for at least the next 12 months.
Last week it was announced that a receiver will be appointed by AIB and Bank of Ireland to a portfolio of Johnny Ronan’s property assets, including Bewley’s Café location. This portfolio also includes other properties in Dublin such as Connaught House on Burlington Road and Kilmore House in Spencer Dock.
