Ford dealer ‘insolvent’
THE country's second largest Ford dealership has had a provisional liquidator appointed to it by the High Court after a judge was told it was insolvent and unable to pay its debts.
Finglas Motors has assets, including its freehold premises on the North Road, Finglas, Dublin, worth €5.5m and has debts of €11.5m, Rossa Fanning, a barrister acting for the firm told the court yesterday.
Along with its Blanchardstown Ford Centre, the company employs 70 people. The directors had brought the court application seeking the appointment of a provisional liquidator so that efforts could be made to market the business as a going concern and save as many of the jobs as possible, counsel said.