Shopkeeper banned again over £83k debt
The former owner of two convenience stores in Co Down has been barred from the boardroom for the second time after another failed company went bust owing over £83,000.
Patrick Owen McGrath (44) of Long Island Drive in Kircubbin ran Carrickglen Retail, which went into liquidation two years ago owing £83,131.
Following action by the Department for the Economy to disqualify him as a director, Mr McGrath accepted incorrect misconduct including acting as a director when he was bankrupt, and misusing the company's bank accounts.
Mr McGrath ran Costcutter shops in Cannyreagh Road Donaghdee and 175 Killinchy Road in Comber, Co Down, but has now been disqualified as a director for nine years.
The former businessman also acknowledged that he had failed to maintain or deliver proper books of accounts. And he also accepted that he had also allowed Carrickglen to be set up as a so-called 'phoenix company' which could take over his old business, SRS Supermarkets Ltd.
The earlier company had also failed, leaving its creditors worse off. That had left Mr McGrath accepting that he had repeated an old pattern of unfit conduct when he set up Carrickglen Ltd. He had been barred as a director for seven years over his conduct as a boss of SRS Supermarkets.