Closed Rathmines Fallon & Byrne reportedly owed over €140,000 to landlord
14 January 2020 | 0
The recently closed Rathmines outlet of grocer and restaurant chain Fallon & Byrne was hundreds of thousands of euros in debt at time of its closure, according to reports in the Irish media.
The branch most recently filed accounts in 2017, at which point the business marked losses of €143,000. As accounts for the business were not filed for 2018 and 2019, it is difficult to ascertain how much the business had lost before the decision was made to close, although it is said to have faced significant losses.
Shocked staff received an email on New Year’s Day telling them that their services would no longer be needed and that the 10,000sq ft outlet would cease trading “effective immediately”. At the time of closure, Fallon and Byrne’s total number of employees across all outlets was around 350.
Many industry professionals were surprised at the move, as Fallon & Byrne had reportedly sought capital of approximately €6 million, with the intention of expanding the doomed store. Last year, majority shareholders in Sarzela, the parent company of Fallon & Byrne, opened a restaurant in Rathmines, Lenehans bar and grill.
Fallon & Byrne’s Dún Laoghaire and Exchequer Street branches remain trading.