Abrakebabra to restructure business following loss

The directors of fast food business Abrakebabra expect the restructuring of the group’s finances and rental agreements to be completed on terms acceptable to the group, its bank and landlords.

This is disclosed in new accounts just filed by Abrakebabra Ltd with the Companies Office which confirm that the business recorded a loss of €505,248 in 2013.

The firm had a shareholders’ deficit of €9.3m at the end of 2013. A note attached to the accounts states that the net shareholders’ deficit resulted from the impairment of fixed assets in 2011 due to the decline in the market value of properties.