COMPANY OWNED BY INDEPENDENT TD GOES OUT OF BUSINESS

Date Published: 09-Jun-2012

A company owned by Galway independent TD Noel Grealish has gone out of business.

The Galway Glass Centre in Briarhill, Co Galway has been placed in voluntary liquidation.

Established in April 2002, the company manufactured plate glass.

In a statement to Galway Bay FM News today, Noel Grealish says that within the last week, he made a voluntary decision to wind up the company.

Company accounts dating from March 2011, show the company had accumulated losses of almost €340,000 and its directors were owed €91,757.

However Deputy Grealish says since these accounts were filed, he has been personally paying off suppliers and is now working with the receiver and accountants to resolve the debt.

A meeting of creditors was held at the Carlton Court Hotel in Galway on Wednesday, however no creditors presented at the meeting.

The entire staff of the company 6 workers, including two of Deputy Grealish's family members, have been let go.

The Galway TD says it has been a difficult time for him and his family but he is in the process of selling the assets of the company and is hoping to be in a position to settle all debts.