Home RSS
Real Estate
Cars

Judgment mortgage registered over hotel

COLM KEENA The Irish Times
The Brandon Hotel, Tralee: operated by a company owned by John Byrne and his family

The Brandon Hotel, Tralee: operated by a company owned by John Byrne and his family


A JUDGMENT mortgage has been registered against the company that operates the Brandon Hotel in Tralee, Co Kerry.



The mortgage was registered to the benefit of Quinn Insurance which obtained a court order for €132,056 against the company in February 2009.

The mortgage was registered in December 2009.

The Brandon Hotel is operated by Prince’s Investments, a company owned by John Byrne and his family.

The most recent filed accounts for Prince’s Investments are for the year ended October 2007, when the company recorded a loss of €1.6 million.

The directors in their report said that increasing competition in the hotel sector was creating a challenge in terms of maintaining sales and profit margins.

At the end of the 2007 financial year the company had shareholders’ funds of €193,506. The notes to the accounts say the shareholders had invested €990,000 by way of a fresh issue of shares during the year and had said they would continue to support the company.


Source








 
_________________________________________________________________________
 
Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.