'Business as usual' for Corry after liquidation
A BUILDING supplies firm based in Belfast has said it is "business as usual" after its seven subsidiaries were liquidated.
JP Corry, which was founded in 1814, has now been integrated into a UK-registered company - though trading at the Northern Ireland business, which employs 270 people, will not be affected.
The Springfield Road-based firm was bought by French-owned building supplies giant Saint-Gobain in 2006. That publicly-quoted company this month acquired Phoenix Merchants in Newry, which is now trading as JP Corry.
JP Corry financial controller Declan Morgan said the liquidation of the dormant companies was an "accounting measure". He said: "We are part of a bigger company and we are a subsidiary of that so that we now fall under Saint-Gobain Building Distribution Ltd.
"The companies which have been liquidated are dormant and have been for quite a number of years. It is business as usual with regard to JP Corry."
Economist John Simpson said: "With the change of ownership and after becoming part of an English-registered company with a French parent company, it is no surprise that St Gobain are moving to liquidate all the JP Corry and related subsidiary companies.
"This will tidy up the structure of the group, reduce legal reporting requirements and, incidentally, enhance the commercial protection of the local trading details.
"The name JP Corry may be retained only as a trading name."
The Belfast Gazette of August 12 records the appointment of liquidators to JP Corry subsidiaries East Downshire Ltd, J Lynas Ltd, JP Corry Trustees Ltd, JP Corry (Ballymena) Ltd, James P Corry -amp; Co Ltd, K McDuff -amp; Co Ltd and Redmond Jefferson Ltd.
The business has 18 branches across Ireland, including 15 north of the border. According to its website, building materials have been supplied by JP Corry of developments like the Odyssey Pavilion, Victoria Square Shopping Centre and the Bar Library.
Saint-Gobain owns a number of companies in the Republic, including Kantor - which was a wholly-owned subsidiary of JP Corry - and PDM.