Pre-tax losses at Claret Capital increase 8.5% to €3.7m

PRE-tax losses at Irish private equity group Claret Capital last year increased by 8.5% to €3.7 million.

Claret was established by Co Clare native and Irish financier Dómhnal Slattery and the documents confirm that the company last year restructured, reducing its workforce by 41% in response to revenues plummeting by 88% from €4.42m to €508,585 to the end of December last.

The family of Senator Feargal Quinn owns 25% of the business and, in the past, the company managed funds on behalf of the former Anglo Irish Bank chief, Seán FitzPatrick.