Billionaire restaurateur Richard Caring has said all-day-dining chain Bill’s has “turned a corner” and after ploughing another £750,000 into the business in the past year.
The latest cash injection by the 73-year-old owner of elite members club Annabel’s, dubbed the ‘King of Mayfair’, brings the total amount he has funnelled into the business since 2018 to £5.6 million.
After slashing the number of sites from more than 80 to 49 to cut costs, Caring said Bill’s was now “trading exceptionally well”.
“Bill’s is now profitable and we’re certainly in the black,” he said, adding that it had enjoyed an uplift in the last six months. “Yes, we have put money into it, but it’s something that we believe is a sensible investment because it’s now working well and we’re proud of it.”
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