C&C boss resigns after €17m costs failed to be detected in Ireland following 'accounting mistakes'

The Bulmers and Tennent's drinks maker said €10m of the previously unreported costs related to its facility in Clonmel

Bulmers cider: C&C hit by breakdown of its financial reporting system

C&C boss Patrick McMahon has resigned from the top job after the Bulmers cider, Five Lamps ale, and Tennent’s lager maker belatedly discovered a total of €17m of costs and charges the company's financial reporting system had failed to detect in Ireland over the previous three years. 

The drinks maker said €10m of the previously unreported costs related to the valuation of stock levels at its major manufacturing and packaging facility in Clonmel, Co Tipperary, but other items also included goods that were not invoiced, liabilities linked to discounts and glassware that were not accounted for, "together with additional items over the three-year period".