Tuesday 16 January 2018

Losses are mounting at Quinn firm

Businessman Tony Quinn
Businessman Tony Quinn

Gordon Deegan

ACCUMULATED losses at the healthcare retail firm owned businessman Tony Quinn increased by €567,844 last year.

According to accounts filed by Tony Quinn Health Centres Ltd (TQHC) to the Companies Office, they show that accumulated losses increased by €567,844 from €2.99m to €3.56m in the 12 months to the end of September last.

The increase in accumulated losses last year resulted in shareholders' funds decreasing from €1.13m to €571,356.

The company operates a chain of outlets across the country; Mr Quinn opened the first store in Dublin in 1976.

A note attached to the accounts states that "the directors have a reasonable expectation, that the company has adequate resources to continue in operational existence for the foreseeable future".

Irish Independent

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