Richard Caring-backed dining firms plan more openings

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Inning businesses headed by restaurateur Richard Caring are planning more openings, betting on strong demand following tough business conditions during the pandemic.

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Recorded accounts show how the lockdown affected sales at Caring-backed Caprice Holdings and Troya UK restaurants as of 3 January.

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The former, which permanently closed its West End venue Le Caprice during this period but also lags behind sites such as Sexy Fish, saw its turnover fall from £64.8 million to £28.4 million.

Meanwhile, the Troia behind the Ivy collection said turnover was £125.8 million, down from £198.7 million.

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In Caprice, Caring plans to open a Mediterranean-influenced restaurant, hospitality news site Propel reported, while Troya reports it plans to open two new Ivy sites during 2021, as well as expand into three existing branches. Where an ‘Ivy Asia’ concept will be added.

The two companies as well as another caring back agreed earlier this year with HSBC on a new revolving credit facility worth £168 million.

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