On May 2nd, the company appointed accountant Joe Walsh as its process adviser under the scheme, introduced by the Government in 2021 as a more cost effective alternative to the examinership process for small businesses.
The most recent accounts for CEBL reveal that it had accumulated losses of €3.9 million at the end of 2020, having lost €268,137 in the year. The directors noted that the company’s performance “gives rise to concerns” about its “ability to continue operating as a going concern.This uncertainty could result in the company being unable to realise its assets and discharge its liabilities in the normal course of business.
Ms Barry, who resigned as a director in 2019, according to Companies Office filings, told The Irish Times in 2020 that Covid-19 had “a massive impact” on the company’s “bricks-and-mortar toy store sales”.
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