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Listed for Strike Off

  • 02-09-2013 2:52pm
    #1
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭


    Hi,

    A competitor of mine has been listed for strike off this morning.

    Does this mean that they should cease trading?

    I've kept an eye on their financial reporting and they haven't submitted their last 2 years of accounts to the CRO.


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Strike off listed means they have been listed for strike off for failure to file returns until they are actually struck off there is not different.

    When the company is struck off all bets are off! http://www.cro.ie/ena/involuntarystrikeoff.aspx


  • #3
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    Thanks .... and what would be the typical timescale involved?


  • #4
    Gaillimh1976
    Registered Users, Registered Users 2 Posts: 738 ✭✭✭Gaillimh1976


    Culchie wrote: »
    Thanks .... and what would be the typical timescale involved?

    It's basically a final warning from CRO - they will have been given a deadline to file all outstanding returns

    From memory think its 28 days, but have been out of that area for years so could well have changed


  • #5
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    Gaillimh1976 wrote: »
    It's basically a final warning from CRO - they will have been given a deadline to file all outstanding returns

    From memory think its 28 days, but have been out of that area for years so could well have changed

    Thanks .... Are there any advantages to be gained by not posting their annual returns? I presume they are being fined... So how come they just don't post them even if they are loss making??


  • #6
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    The first thing to look at is did the deliberately not file them.

    So they did not bother getting their accounts done in time or there was a dispute between the directors or one was sick and accounts were not prepared in time or could not be agreed.

    Perhaps the accounts were prepared but for some reason were not filed on time. This means that the accounts have to be audited and the company is having an issue a getting an auditor or paying an auditor.

    Or they may not want to file the accounts because the results are so bad.

    Could be alot of reasons.


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  • #7
    Culchie
    Registered Users, Registered Users 2 Posts: 5,047 ✭✭✭Culchie


    Thanks ... I know from previous filings and local knowledge that the results will be bad .... but if they are being fined on a daily basis .... don't see the logic why they don't file them anyway.

    Anyways, time will tell, thanks for input and reply.


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