O’Connor’s entertainment firm swings into the red with losses of over €180k
New returns filed by O’Connor’s So Touring Ltd to the Companies Office for last year show that the firm had accumulated losses of €186,565 at the end of December last.
This followed the firm having accumulated profits of €70,901 in 2011 — a negative swing of €257,466 in 12 months.
However, the loss is explained by O’Connor lending the firm an additional €254,819 during 2012.
According to a note attached to the accounts, the director’s loan is interest free, unsecured and repayable on demand. The note states: “The loan is payable to Sinead O’Connor.”
The firm had no cash at the end of the year with €36,707 in cash at the start of 2012. However, the amount owed by debtors increased from €89,348 to €182,231.
The firm going into the red coincided last year with O’Connor releasing her first album in five years How About I Be Me (And You Be You)? to good reviews.
The album peaked at No 5 in the Irish charts while it also achieved top 20 placings in the US alternative and Polish album charts.
O’Connor cancelled a tour to promote the album last year for health reasons, but has now resumed with the Crazy Baldhead tour and is playing two gigs in France this weekend.
O’Connor has more tour dates in the UK this September before going to the US to play gigs in November and December.
Ms O’Connor owns 100% of the share capital of the firm. The only other director is her former husband, John Reynolds who produced her latest album.
O’Connor first burst onto the music scene in 1987 with the release of The Lion and the Cobra that earned her a Best Female Rock Vocal Performance Grammy nomination.
Her follow up album, I Do Not Want What I Haven’t Got featured O’Connor’s international breakthrough hit, Nothing Compares 2 U, a song written by Prince.
The song was number one in Ireland and Germany in Jul 1990 and remained there for 11 weeks in each country and was number one in the UK for four weeks.
