The company said that during the year €1.46m “was utilised as part of the onerous lease provision”.

However, while Bewley's Café was in a stronger position last year, it still finds itself with substantial liabilities to contend with. Its net liabilities stand at close to €20.3m—down slightly year-on-year from €21.3m.

The records show that nearly €15m of these outstanding liabilities are falling due over the next 12 months. The vast majority, €13m, is recorded as “amounts due to group companies” with €1.15m going to pay back loans.

There is still nearly €5m in loans coming due in 2024 and after, of which all will go to paying back bank loans. In the financial statement, the company’s auditors KPMG said these documents have been prepared on the basis that the company is a “going concern”.

“Whilst the company is in a net current liabilities position at December 31, 2022, the company has secured sufficient funding subsequent to year end such that the director has a reasonable expectation that the Group will have adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements,” KPMG said.

The café has struggled significantly in recent years and closures over the pandemic did not help its situation. It recorded a loss in 2020 and 2019 of €1.4m and €223,000 respectively.

All this comes as news broke last week that developer Johnny Ronan has agreed to the appointment of a receiver to the portfolio of property assets that includes Bewley’s Café location.

The receiver is to be appointed by AIB and Bank of Ireland. The portfolio also includes a number of locations in Dublin including Connaught House on Burlington Road and Kilmore House in Spencer Dock.