Cost of opening novel outlets and £2.3m impairment charge on older restaurants push Tesco-owned chain a further £4m into the redLosses at Tesco’s Giraffe restaurant trade have ballooned to £4.1m after it opened novel outlets and wrote down the value of some existing sites.
Sales at the family friendly chain,which was bought by Tesco’s former chief executive Phil Clarke as part of his contrivance to make the supermarket’s large stores more exciting, rose nearly 24% to £55m in the 53 weeks to 1 March, and according to accounts filed at Companies House.
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Source: theguardian.com