Failed furniture firm had deficit of €6.6m

Co Galway firm Curley Furniture and Carpets Ltd collapsed owing €3.8m to the Ulster Bank and €600,000 to the Bank of Scotland, figures show.

According to a statement of affairs circulated to creditors the firm had a deficit of €6.6m when it went into receivership last month. The figures show preferential creditors — made up of Revenue and monies due to employees — are owed €750,000.

Unsecured creditors are owed over €1.1m, that includes €1m to other firms in the Curley group along with €105,000 owed to suppliers. Last month, Ulster Bank — which has a floating charge over the company’s assets — appointed Aengus Burns of Grant Thornton as receiver. The furniture retail firm — which employed 45 — operated three stores in Galway, Kilkenny and Ennis.