When directors abuse the trust placed in them, the fallout can be devastating—not just for creditors, employees, or the taxman, but for the public at large.
The company behind Flanagan's Restaurant and Bar on O'Connell Street and Dublin construction firm JV Ledwith are the newest entrants into the scheme that aims to help small businesses avoid collapse.
Mark Henry was one of the most high-profile builders in Britain. Born in Sligo, his business collapsed in June 2023. Now the administrators of that firm are making serious allegations against him and family members, which they are expected to defend.
Brothers Cormac and Gavin Quinlan appointed Kennedy to liquidate two of their companies with assets of €800,000. In May, they removed him as liquidator. They have asked their new liquidators to get their money back.
Powerscourt Distillery may yet pull through, as might Fade Street Social and Captain Americas, but they’re now part of a growing cohort navigating the path between collapse and survival.
Wellman International has been in operation for over 50 years and employs over 200 staff but after a “pattern” of loss making, its parent company is no longer prepared to sustain it.
Having spent most of the past 20 years in China, furniture designer Frank Carroll saw his company Alfrank Designs face insolvency last year. Aged 71, he was asked: “Do you still want to do it?”
The High Court has reversed a Labour Court decision in favour of a former employee at Debenhams, a move that has implications for a further 800 former workers. The move comes following a successful appeal by the company’s liquidators.
The furniture company’s founding shareholder Frank Carroll was also its main creditor when it entered examinership last autumn. This is how he kept control of the business.
The engineering firm has gone into liquidation. It shrunk from 45 staff in 2023 to just 10 last year and hoped for big contracts and outside investment to save the business. They didn't come through.
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