Accumulated losses increase at Quinn firm

Gordon Deegan

Accumulated losses at businessman Tony Quinn’s healthcare stores increased to €1.66 million last year, according to accounts just filed with the Companies Registration Office.

The figures shows that accumulated losses at Tony Quinn Health Centres Ltd increased by almost €285,000 in 2012 to to €1.659 million from €1.375 million the previous year.

Shareholders’ funds dipped to €2.475 million from €2.75 million as a result. Cash balances also fell, to €136,602 from €337,872.

Mr Quinn lives in the Bahamas and controls the chain, which operates a chain of stores around Ireland, through a Jersey based entity, Baringo Trading. The business grew out of a shop that he opened on Dublin's Eccles Street in 1971.

The accounts state that the directors have a reasonable expectation that the company has adequate resources to continue operations for the foreseeable future.