Bombay Pantry Pays Down Debt
Bombay Pantry, which was awarded three Gold Stars at the 2014 Great Taste Awards, has been making good progress in reducing its sizeable debt burden.
Based in Kilcoole, Bombay Pantry operates seven takeaway restaurants in the Dublin region and also supplies ready meals to Supervalu, Centra and Dunnes Stores.
The Great Taste awards related to Bombay Chicken Curry, Butter Chicken Masala and Butter Masala sauce. John Sheehan, founder of the company, commented: “We are delighted to win three stars and this is the fifth year in a row that we have been bestowed with this honour.
“Winning a Great Taste Award recognizes the hard work and dedication that goes into making great food, and we will continue to strive for excellence with our products.”
The Bombay Pantry operating company, Nutweave Ltd, booked a net loss of €46,000 in the year to end June 2013. The abridged accounts disclose a reduction in bank load, hire purchase and lease liabilities in the financial period.
In June 2013, Nutweave had bank loan, finance lease and hire purchase liabilities of €736,000. This was a reduction of €173,000 from the €909,000 outstanding a year earlier.
Outstanding borrowings from Ulster Bank declined from €507,000 to €439,000. A note in the filed accounts states: “The directors have held discussions with Ulster Bank about the company's future borrowing needs and no matters have been drawn to their attention to suggest that its existing overdraft and loan facilities will not continue to be made available on acceptable terms.” (August 2014)