Clohessy's toughest challenge as pub goes into the red
Published 07/07/2011 | 05:00
A company that operates a well-known Limerick entertainment venue, co-owned by former Irish rugby star Peter Clohessy, went into the red last year, new figures show.
According to new filings with the Companies Office, Clohessy's Bar Limerick Ltd's accumulated losses increased from €281,838 to €320,711 in the 12 months to the end of August last year -- confirming a loss of €38,876 for the year.
This follows Clohessy's Bar Limerick Ltd recording a profit of €37,674 the previous year.
The former prop, pictured above, who was capped 54 times for Ireland and more than 100 times for Munster, said he had "no comment" to make on the results.
The accounts are abridged and only provide limited information on the company's performance.
They show that the shareholders' deficit last year increased from €271,838 to €310,711.
The figures show that the amounts owed to the company's creditors within one year increased from €849,861 to €931,263 with the company's net current liabilities increasing from €259,591 to €357,229.
Peter Clohessy's bar is one of the largest pubs in Limerick, overlooking the River Shannon at Howley's Quay on the riverfront and opened in 2001.
Mr Clohessy is one of six directors for the company with the remainder all coming from Cork.