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O'Donoghue's Debt

Published on Jan 11 2013 10:28 AM in Pub/Bar/Nightclub

O'Donoghue's Debt

The iconic pub where The Dubliners were formed and personal favourite of certain members of the Hospitality Ireland team, O'Donoghues on Merrion Row has racked up debts of just over €1.8m in the year to the end of last June.Well-known watering hole O'Donoghue's, beloved of both locals and tourists, stated that it had an operating profit of €280,000 last year. However, the profit and loss account was dragged down by a historic loss. The Merrion Row pub describes itself as probably the best-known traditional Irish music bar in Dublin. Accounts filed with the Companies Office for the year to the end of June 2012 show that amounts falling due to creditors within a year totalled €659,432, while the amounts falling due after a year were €1.15m.According to reports, the vast bulk of the debt allegedly relates to loans, with €203,217 of the sums due within a year relating to bank loans and overdrafts.

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