Losses widen at Tony Quinn-founded healthcare chain
Company set up by Dublin-born businessman reports loss of almost €3 million
The first Tony Quinn healthcare store, which sells a range of weight-loss, anti-stress and body building supplements, opened in Eccles Street in Dublin in 1976. Photograph: Getty Images/iStockphoto
Losses at the healthcare retail company owned by former lifestyle guru Tony Quinn widened last year, newly filed abridged accounts reveal.
The accounts show the company set up by the controversial Dublin-born businessman fell deeper into the red with accumulated losses rising by €393,671, from €2.6 million to €2.99 million for the 12 months ending September 30th, 2015.
The loss comes after the company, which operates a chain of stores across Ireland, reported a €493,442 loss in fiscal 2014. The first Tony Quinn health centre opened in Eccles Street in Dublin in 1976. The stores sell a range of weight-loss, anti-stress and body building supplements.
Shareholders’ fund decreased from €1.5 million to €1.3 million in 2015, having stood at €2 million a year earlier.
Employee numbers were stable last year at 42 with employment costs totalling €884,652.
The company’s cash at bank and hand doubled from €123,420 to €266,058 having stood at just €63,327 in 2014.
The yoga guru, who now lives in the Bahamas, is not a director of the company named after him, which operates on a franchise basis.