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Another one bites the dust... Mc Keon's BMW, Kells...

Comments

  • #2
    flanzer
    Registered Users, Registered Users 2 Posts: 3,143 ✭✭✭flanzer


    Sure it'll be open again within 4 weeks


  • #3
    MrDarcy
    Closed Accounts Posts: 585 ✭✭✭MrDarcy


    The main shareholder Michael Mc Keon is on the hook for a lot of debt because he gave personal guarantees for a 2.7 Mil loan from AIB, a 500,000 Loan from Lombard Ireland and a 100K personal guarantee for a NIB Loan for the same amount. This is after he seemed to have pumped in 1.1 mil in director loans into the company.

    You certaintly can't say that the man didn't try to keep the plane in the air. With debts of 12 mil, it is hard to see how a voluntary liquidation can be used here, a voluntary liquidation means you can pay all of your creditors and nobody takes a hit, except maybe company directors who gave loans to the company. Unless 12 mil can be made from the assets of the company, I don't see a voluntary liquidation as a possibility, not that it matters much at the end of the day what form the liquidation is processed through.


  • #4
    -Corkie-
    Closed Accounts Posts: 10,025 ✭✭✭✭-Corkie-


    There is a thread here allready and the whole thing has been discussed.

    http://boards.ie/vbulletin/showthread.php?t=2055976606 there you go.


  • #5
    jock101
    Registered Users, Registered Users 2 Posts: 685 ✭✭✭jock101


    Sure maybe, Gormless will open a nice Green environmentally friendly Bicycle shop in the vacant showroom!:D So the good economic units, oh I mean good people of North Meath can cycle to Dublin to go to work!:rolleyes:


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