Flannery hotel family row settled after payouts from retained profits via IrishTimesBiz
The directors’ report attached to new Foxfield Inns DAC accounts states that this buy-back “was financed from an adequate level of retained earnings”.
Separate documents lodged with the Companies Office show that shareholdings owned by Andrena Flannery and Mary Flannery were purchased by the company on June 24th, 2022 and the two resigned from the company’s board the same day. Kevin Flannery and Frank Flannery remain on company’s board and approved its accounts on February 14th.
A note attached to the new accounts states that draft financial statements confirm that the group recorded a profit of €1.75 million in 2021, following a loss of €216,000 in 2020.
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