Doubts expressed over Glencullen Holdings continuing as going concern

DOUBT has been cast over the ability of Apprentice star Bill Cullen’s main company Glencullen Holdings to continue as a going concern.

Losses at Glencullen Holdings totalled €8.4 million in 2008 with the company saying 2009 was also a difficult year. This follows pre-tax losses in 2007 of €18.6m.

The company’s auditors, PricewaterhouseCoopers, in a note dated December 22, 2009, doubted the company’s ability to continue as a going concern in the company’s latest set of accounts.