Losses at the Irish arm of US coffee giant Starbucks increased 15-fold last year after the company recorded an impairment charge of €3.97 million due to underperforming stores in Ireland.

The iconic global coffee brand was established in Ireland in 2005, and accounts just filed by Starbucks Coffee Company (Ireland) Ltd show that its accumulated losses now stand at €7.6 million.

In the year to the end of September last, its pre-tax losses increased to €5.4 million.