The latest accounts for the parent company of burrito bar chain Boojum, Modern Restaurant Concepts Ltd, have reportedly revealed that Boojum's sales run rate decreased by an average of 54% from mid-March to June of 2020.
However, as reported by The Sunday Times, a note accompanying Modern Restaurant Concepts Ltd's latest accounts stated that "revenues across all regions have steadily recovered since the initial downturn".
Directors Statements
Directors and brothers David and Andrew Maxwell reportedly said that the company was ultimately successful in temporarily moving from in-store dining to just takeaway trading due to the COVID-19 pandemic.
The Sunday Times quotes the directors/brothers as saying, "A pivot of this magnitude not only put pressure on income, it also required rapid investment in services and equipment, and retraining of staff to ensure compliance with new regulations."
Four of the company's 17 outlets on the island of Ireland were reportedly closed for over a year due to the pandemic when the company's latest accounts were signed off, and will resume trading "when conditions permit".
The Maxwells reportedly said that the company has secured support from core stakeholders, adjusted its operating model and protected liquidity within existing financial resources, and reportedly also highlighted campaigns to help staff members and local communities that have been adversely impacted by the pandemic.
These campaigns reportedly included donating 15,000 meals to vulnerable people.
Pre-Tax Loss
Accounts for the year that ended on April 26, 2020, reportedly show a £751,023, or €874,149, pre-tax loss.
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