Losses top €2.6m at health guru Tony Quinn's company
Published 09/09/2015 | 02:30
Accumulated losses at the healthcare retail firm owned by health guru Tony Quinn rose by just under €500,000 last year.
According to accounts filed by Tony Quinn Health Centres Ltd (TQHC), accumulated losses rose by €493,942 to €2.6m in the 12 months to the end of September last.
The abridged accounts show that shareholders' fund decreased from €2m to €1.5m.
The Dubliner, who now lives in the Bahamas, is not a director of the company he founded but the firm is owned by his Jersey Island-based Baringo Trading.
The company operates a chain of outlets across the country - Mr Quinn opened the first store on Dublin's Eccles Street in 1976. A note attached to the accounts of TQHC states that "the directors have a reasonable expectation, having made appropriate enquiries, that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements."
The figures show the cash pile almost doubled from €62,327 to €123,420 during the year.
Numbers employed stayed at 42 with staff costs falling from €954,214 to €888,320.
On his educoworld.com website, Mr Quinn says: "One of my biggest interests is in designing models and structures - for both fun and profit. Examples range from business, to running a country, productivity, education, medicine..."