The firm behind the Eddie Rockets chain of restaurants here last year recorded pre-tax losses of €3m.
This followed revenues more than halving at Eddie Rockets (Ireland) Ltd, from €19m to €8.68m, in the Covid-19 hit year.
The Niall Fortune-controlled company recorded the €3m pre-tax loss after incurring non-cash impairment charges of €2.53m.
The pre-tax loss of €3m followed a pre-Covid pre-tax loss of €508,905 in 2019.
Across the island of Ireland, 41 restaurants operate under the Eddie Rockets brand, made up of 22 in Dublin and 19 on the rest of the island.
The €3m pre-tax loss takes account of 'other operating income' that includes €300,000 in insurance claims receivable and government grants receivable of €418,557.
The loss also takes account of non-cash depreciation charges of €1.05m.
Operating lease charges last year reduced by €380,000 from €1.323m to €942,998.
Numbers employed by the business last year reduced by 38.5%, or 130, from 337 to 207.
Staff costs reduced from €7.2m to €2.5m, which takes account of Government Covid wage subsidy of €686,921.
The directors said that "whilst we are not currently able to assess the full financial impact of Covid-19, we anticipate a significant decline in cashflow and profitability".
They added that "the significant restrictions placed on restaurants, and the resultant sharp decline in revenues may also result in the impairment of the capitalised value of our restaurant investments".
The directors reveal that "refinancing discussions with the group’s bankers successfully concluded in early 2021 which the directors believe will provide the essential working capital needed to support the business".
Addressing the business’s going concern status, the directors state that the circumstances facing the business "represent a material uncertainty which may cast significant doubt on the company’s ability to continue as a going concern".
They state that therefore the company "may be unable to realise its assets and discharge its liabilities in the normal course of business for a period of at least one year from the date of the approval of these financial statements".
The directors do state that they believe that the company "is well positioned to return to full trading capacity once the current period of uncertainty and restriction passes".
