Losses rise at company behind Clohessy venue

 

Limerick:The company that operates the well-known Limerick entertainment venue co-owned by former Irish rugby star Peter Clohessy slipped further into the red last year, new figures show.

New filings with the Companies Office show accumulated losses for Clohessy’s Bar Limerick Ltd rose from €320,711 to €323,644 in the 12 months to August 31st last.

However, the rate of losses has narrowed sharply compared to 2010, when the firm’s accumulated losses increased by €38,876.

The 2011 figures show when non-cash depreciation and asset write-down costs of €92,007 are taken into account, the firm recorded a cash profit last year of €89,074.

A former Irish international prop capped 54 times, Mr Clohessy opened the pub in 2001 and co-owns the business with a number of Cork-based investors.

Mr Clohessy is one of six directors of the company, with the other individuals all coming from Cork. They are Tom O’Riordan of Compass Hill, Kinsale; John Gaffney of Ballyleigh, Waterfall; Barry Harte of Parochial House, Timoleague; Tom Kingston of Corran, Waterfall and Brian Smith of Springfort, Montenotte.