Kentucky Fried Chicken’s Irish operator drops into red

The company that operates the Kentucky Fried Chicken franchise across Ireland plunged into the red last year.

Documents just filed with the Companies Office by Herbel Restaurants Ltd show that the firm recorded the losses after incurring exceptional costs of €4.4 million relating to the write-off of an inter-company loan and incurring a €5.6m loss on the disposal of fixed assets.

The firm — which is owned by Michael Herbert, one of the North’s best known businessmen and who regularly appears on various rich lists — recorded pre-tax losses of €8.76m in the 15 months to the end of March last year. It had profits of €737,426 in 2013.