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Saturday 19 August 2017

Rival firm set up by Carey's sister runs at a loss

Donal O'Donovan

Donal O'Donovan

THE rival cleaning business started by DJ Carey's sister Catriona after she split from the hurling legend's company is running at a loss.

Accounts for Carey Cleaning Supplies of Gowran in Kilkenny have just been filed with the Companies Registration Office.

Catriona Carey set up Carey Cleaning Supplies after she left DJ's struggling company in 2009.

The accounts show that the business had a shareholder deficit of €21,366 at the end of April 2010.

It means the business owes more than its assets are worth.

Shareholder deficits are common in new companies as they struggle to break even. Carey Cleaning Supplies was only set up in 2009.

The accounts value Carey Cleaning's assets at €21,446 and say it had total debts of €42,812, at the end of the 2010 financial year. The debts include bank loans of €17,800.

Liquidation

In February of this year DJ Carey's much longer established contract-cleaning business collapsed into liquidation after years of losses.

DJ's business had debts running to €1.7m, according to its most recent accounts, and had to write off hundreds of thousands after unauthorised transactions dating back years were uncovered by its auditors.

The reasons behind the collapse of that company are being probed by the gardai and liquidator Noel Murphy.

Former international hockey star Catriona was a director of DJ's business but left the company in 2009 in what became an acrimonious split.

The fallout between the siblings came just as cracks were emerging in the business they ran together and set tongues wagging in Kilkenny and beyond.

Carey Cleaning Supplies is very much a family affair. Its directors are listed as sisters Catriona and Liz and mother Maura Carey.

Carey Cleaning is a far smaller operation than DJ Carey Enterprises, which is now in liquidation.

Irish Independent

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