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 Post subject: Pubs going bust
PostPosted: Sat Jan 14, 2012 8:21 am 
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I've passed a few Dublin pubs recently that seemed to have closed (lights off, shutters down), either totally closed, or at least are choosing to stay closed some nights of the week.

e.g.
Kobra, Leeson St (seemed to be closed one evening, but open another evening)
Foleys, corner of Merrion Row & Merrion St (lights were off one evening)

And of course Searson's closed completely recently.

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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 11:01 am 
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I mentioned Searsons in the hotel thread. One of the banks appointed Martin Ferris as receiver to Searsons and the Thomas Read (and the Bailey I think) He sold the Bailey's lease but fell out with the landlords of the other two before Xmas. Some of the guys ex Capitol Bars are running the Thomas Read now but the lease on Searsons has not yet been surrendered. Quite surprising that it was closed over Xmas.

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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 4:05 pm 
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Conways on Parnell Street closed a while back; anyone know exactly why?


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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 4:53 pm 
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Quote:
Conways on Parnell Street closed a while back; anyone know exactly why?


A property play gone bad, what else?

http://www.barkeeper.ie/News_Item.asp?News_ID=1339


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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 5:28 pm 
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Is that Conway's pub the home of the brown envelopes? Rather ironic if so:
http://www.thefreelibrary.com/I+PAID+OU ... a061766996


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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 6:40 pm 
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Went past the Botanic in Glasnevin/Phibsboro the other night and it was shut up.


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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 8:09 pm 
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the inn on the park in harolds cross which has been shut for a few years has been refitted and reopened recently as mcgowans.
Looks quiet anytime I pass it,


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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 10:05 pm 
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Conways has no licence....since about 4 years ago. One of the former owners is rather tits up on property 'plays' and even had the CAB chasing him for cash.

http://www.irishtimes.com/newspaper/ire ... 99700.html

Quote:
Investor who lost €36m unable to pay pub partner

AN INVESTOR who lost €36 million in the property collapse told a judge yesterday he was unable to pay anything to a former partner to whom he owed €1.2 million.

At an appeal hearing in the Circuit Civil Court in Dublin, Philip Mahon agreed that he was still collecting thousands of euro every month in rents but said it was all destined for banks who had loaned him millions.

He agreed with barrister Angus Buttanshaw that he owed former pub-sharing partner Dan Ryan €1.2 million but said he was unable to redirect money from rent collections to Mr Ryan – even to save himself from going to jail.

Mr Mahon (63), formerly of Kilmashogue Lane, Rathfarnham, Dublin, said if he diverted money from the banks to meet a €10,000 monthly court order in favour of Mr Ryan, the finance houses would put in a receiver and there would be nothing left for anyone. He said he had separated from his 58-year-old wife Margaret and was now living with a sister in Co Meath, where he owned properties in Navan and Kells. He also owned properties in Bundoran, Youghal and Dublin.

Mr Buttanshaw told Judge Alison Lindsay that Mr Ryan, of Stepaside Park, Stepaside, Co Dublin, had owned a share in Conway’s Pub opposite the Rotunda hospital in Dublin with Mr Mahon and Edward O’Donoghue.

Mr Ryan claimed a deal had been done behind his back and he had been left with nothing, eventually obtaining a judgment for the €1.2 million against Mr Mahon. In 2009 the District Court had granted Mr Ryan a €10,000 a month instalment order against Mr Mahon, which had not been paid.

Later the District Court had directed Mr Mahon spend three months in Mountjoy Prison on foot of his non-compliance with its order and Mr Mahon appealed that decision to yesterday’s sitting of the Circuit Civil Court. “I went from being a paper millionaire worth €20 million to owing the banks €16 million,” Mr Mahon told his counsel Conor Kearney. “I have not wilfully defaulted on the payments to Mr Ryan. I just don’t have the money.”

Mr Mahon told Mr Kearney he now lived on social welfare and was allowed by the banks to keep a small allowance from property rentals he collected and paid over to them. If he directed any of the rentals towards repaying Mr Ryan the banks would pounce on him and appoint a receiver. Either way Mr Ryan was going to get nothing.

He said he had to pay almost €1 million to the Criminal Assets Bureau over tax defaults and still owed them just short of €2 million.



What is this small allowance he gets on top of the dole...a MEANS is it??

Pity CAB is not let loose on the likes of McFeely rather than having him skulking in th UK on a bankruptcy expedition.

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Last edited by 2Pack on Sat Jan 14, 2012 10:08 pm, edited 1 time in total.

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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 10:08 pm 
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blackdog wrote:
the inn on the park in harolds cross which has been shut for a few years has been refitted and reopened recently as mcgowans.
Looks quiet anytime I pass it,


That pub should survive on after funeral gatherings alone with Mount Jerome just across the road. Don't know what it's like inside but I would stick a few large self contained rooms in there to cater for that market, although the parking is an issue of course

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 Post subject: Re: Pubs going bust
PostPosted: Sat Jan 14, 2012 10:46 pm 
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The julianstown town inn and the cock in gormanstown both gone in the last few months, the old mill in julianstown went a few years ago in a property play and subsequently burnt to the ground.


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