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Full coverage: Insolvency

Saving the Dublin pub without a tenancy agreement, or a liquor licence

An interim examiners' report into a pub owned by businessman Colm Wu found "serious issues" with the business including issues around corporate governance, but it sees the firm as having a reasonable prospect of survival.

Rosanna Cooney
14th Dec, 2023 - 4 min read

Well-known Dublin ice-cream chain Scrumdiddly’s needs rescuing

Once backed by savvy investors, Scrumdiddly’s has entered the Scarp insolvency process after a rainy summer added to mounting debt pressure.

Thomas Hubert
11th Dec, 2023 - 1 min read

“A Phoenix entity”: Tax authority takes aim at Wexford logistics company

According to Revenue, persons in control of Phoenix-type businesses may take steps to conceal these criteria. Now the tax authority claims that this is the case in relation to a Wexford logistics business.

Tom Lyons
7th Dec, 2023 - 2 min read

Covid closures and Revenue debts of over €1.2m push Dublin pubs to the brink

Interim examiners were appointed to pubs owned by businessman Colm Wu. An independent expert report has found a "concerning disregard for both internal control measures and adherence to Company Law" in one of his companies.

Francesca Comyn
28th Nov, 2023 - 5 min read

When growth stops: How Killeen Engineering Fabrication came unstuck

Killeen Engineering Fabrication built, installed and maintained high-end gates to residential properties and it secured between 50% and 100% of the costs upfront. So, why has it collapsed into liquidation with the potential loss of 50 jobs?

Ian Kehoe
28th Nov, 2023 - 4 min read

Altada: More questions raised including the use of private jets, villas by the once “soon-icorn”

The founders of Altada once predicted it would be worth $1bn but instead, it went into liquidation. Now there are questions about spending at the start-up, which its founders are expected to defend.

Tom Lyons
9th Nov, 2023 - 2 min read

“A history of persistent loss”: HealthBeacon wins court protection

The medtech firm began to shed money until there was literally "no more gas in the tank". The appointment of an interim examiner by the High Court today has triggered eleventh-hour working capital funding that will pay staff and keep the business afloat.

Francesca Comyn
27th Oct, 2023 - 3 min read

“The rug was pulled from under us”: KPMG due to be appointed as liquidators to largest F45 franchisee in Ireland

Gavin McConnon and Brendan Spratt, who co-own Dumbbell Fitness Ltd, have run out of road for their chain of F45 gyms. In a letter to their creditors, they give their account of what went so wrong for the company.

Rosanna Cooney
26th Oct, 2023 - 3 min read

High costs and energy bills land fish processor with a €42m deficit

Having failed to raise €50m, Bio-Marine Ingredients Ireland Ltd is using the recently introduced Scarp process to restructure its debts. But first, it wants the High Court to grant it protection from its many creditors.

Francesca Comyn
25th Oct, 2023 - 3 min read

Peter McVerry Trust running out of cash – accountants’ report

PWC has been tasked with assessing the solvency of the leading Dublin-based homeless charity and highlighted the need for exceptional funding over the coming months.

Tom Lyons
22nd Sep, 2023 - 2 min read
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