Whelan Frozen Foods, the Dublin food distributor that closed after it lost its only customer, Dunnes Stores, made a profit of €555,000 on a turnover of €233 million in its last 18 months in business.
The company distributed chilled and frozen foods for Dunnes Stores until the retailer ended its contract with it on February 28th, 2007. The firm's owner, Pat Whelan, said the business ceased trading on this date, leaving 477 people without jobs.
According to accounts just filed, the firm made an operating profit of €1.2 million in the 18-month period to June 2nd, 2007, compared with €1.6 million for the year to January 31, 2006.
Mr Whelan said the company has sold its premises at Park West and Ballycoolin in Dublin and that he had retired following the closure of his company. Whelan Frozen Foods had been storing and distributing food for Dunnes Stores for 26 years. The contract is now held by other suppliers.
Whelan Frozen Foods was given a year's notice of the loss of the Dunnes chilled and frozen foods business in February 2006 and six months' notice on the company's other business.
The company secured an interlocutory injunction against the retailer. Its difficulties with Dunnes began when the retailer tried to reduce Whelan's margins. During a court hearing last year, it emerged that Dunnes was unhappy with the level of profits being made by Whelan's.
Whelan Frozen Foods said Dunnes had "sensationalised" its profits. Whelan's made pretax profits of €1.5 million on turnover of €189 million in the year to January 31st, 2006.
The case was settled last year.
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