Debtors to be named and shamed on shop window
Published 17/02/2009 | 08:31
A struggling businessman, who claims he is owed over £90,000, will today name and shame his debtors by posting up a list in his shop window.
Owen Smith (47), from Cavan town, said some of his unpaid debts go as far back as 2002 and he could not put off the payments any longer.
Mr Smith, who co-owns C&S Timber Importers on College Street, Cavan, said he was resorting to such tactics out of desperation.
"About two weeks ago, I sat in my office and I was looking at the amount of money I was owed and I was looking at my overdraft, so I decided that if by a certain date I had not got a response I was going to name them," he said.
Mr Smith said he is owed around£90,000 in total from 20 debtors. He said he would name his oldest debtors and put up a second list in March.
"My back is to the wall here. The bank has said that if we don't get our overdraft down they will close the account.
"I'm married, I have four small children and I have a mortgage to pay, so I'm in a very precarious position."