I doubt if someone who worked in the store had this information & I would guess the son has exagerated just a little. If any store took in €1.7m in 6 weeks, they certainly would not be out of business.
Another scenario could be that they have ceased trading and have no tangible assets and therefore are awiting a third party (e.g creditor) to apply for liquidation - this may not happen as the third party would have to pay the costs of liquidation.
All in all there should be some sort of statement (even I'm surprised at the length this has gone on) - somebody could go to the cro website and obtain the last ldged accounts which would give details of the auditors and ask them for a statment. The cost is 2.50 per document.
Regarding the CRO, all their accounts are up to date and their next filing deadline is not until end of June (6 months after accounts end date) - so the CRO cannot legally do anything whatsoever.
However as ronan c says, the ODCE is where the letters should be sent to , its the only avenue I see open failing any news over the next couple of days. - BTW written letter is best as it leaves a paper trail and it has a better chance of an answer than e-mail / phone.
Hi Macaul, unless I am looking at another company, your information is incorrect - this company is not up to date with the CRO. Their last Accounts were to April 2007 (from memory) with their last Annual Return either 31/01/2008. They are late with their return and CRO will have written to them advising them of this.
I have already downloaded the Accounts filed with the CRO. The Auditors were KMPG and I telephoned them and they did not know what was happening. CRO had written to the Directors (about their late Annual Return) This happens much quicker when the Company had been previously struck off as this one has.
This is one where there has been a lot going on behind the scenes on this one. The Liquidator has a duty of care to report if there has been reckless trading to the ODCE and this may lead to a prosection for the Directors of Jim Langan Furniture Value Limited.
It will be interesting to see who has appointed the Liquidator, Directors or third party, my opinion would concur with one of MacCauls scenarios, that the Directors may have been sitting back waiting for someone else to appoint a Liquidator, though we will have to wait and see.
Personally, I would not be too quick to appoint another Liquidator - wait and see what the state of play is regarding the assets of the Company. It has been my experience on these type of things that feelings are running high as people have lost money. This often leads to the blame game. I have seen people ranting and raving at these meetings with no real purpose until they run out of steam. Then and only then is the real question -what are the assets of the company expected to realise - and will I get my money back?
The last accounts showed a charge over the property of the company by Bank of Scotland Ireland, which does not appear to be satisfied. Accounts indicate a loan (with a personal guarantee by Mr. Langan) it will be interesting to see what else is left.
Once the Liquidator has been confirmed (if it is Friel Stafford) or anyone else, I would write to them advising them that I am a creditor of Jim Langan's. I would ensure that I am on the list of creditors, because, no offence, I dont know how accurate the books of JL's are.