Roll up, roll up - business booms again at Fossett's Circus
Business is up at Fossett's Circus and the circus is set to break even in 2015 after exiting examinership earlier this year.
That is according to marketing manager with Fossett Brothers, Charles O'Brien who said yesterday that the examinership for the business "was humiliating, humbling and traumatic, but we are proud to have come out the other side of it and to be in a position to pass the business on. It is a heritage we don't take lightly."
Mr O'Brien was commenting on new accounts filed by Fossett Brothers Circus Ltd which show that the circus booked a profit of €177,668 in the 18 months to the end of October last chiefly arising from creditors taking a hefty write-down from the examinership of the firm.
The family-owned business emerged from examinership in February and new accounts show that the amount owed to creditors was written down by €213,713 from €253,369 to €39,656.
Mr O'Brien said that the circus's business plan has a target to break even in the first year after examinership.
He said: "We're on target to meet our break even target and we hope to do even better than that. The Fossett family is very positive now about moving forward."
The 127-year-old business employs 48 people including 15 members from the Fossett family led by 85-year old Herta Fossett.