Fossett’s Circus to break even after examinership

Fossett’s Circus is set to break even in 2015 after exiting examinership earlier in the year.

That is according to Fossett Brothers marketing manager, Charles O’Brien who said yesterday that the examinership process had been “humiliating, humbling and traumatic,” for the business, “but we are proud to have come out the other side of it and to be in a position to pass the business on. It is a heritage we don’t take lightly”.

Mr O’Brien was commenting on new accounts, filed by Fossett Brothers Circus Ltd, showing that the company booked a profit of €177,668 in the 18 months to the end of October last, chiefly arising from creditors taking a hefty write-down from the examinership of the firm.

The family-owned business emerged from the examinership process in February and the accounts show the amount owed to creditors was written down by €213,713 from €253,369 to €39,656.

Mr O’Brien said the circus’ business plan has a target to break even in the first year after examinership.

“We’re on target to meet our break-even target and we hope to do even better than that. The Fossett family is very positive now about moving forward,” said Mr O’Brien.

The circus employs 48 people, including 15 members from three generations of the Fossett family, including matriarch, 85-year old Herta Fossett who runs the circus shop, down to Julia, 7, who after school hours entertains circus goers with her horses.


Lifestyle

Another episode, another incredible Cork woman. The tale of Mother Jones, the famous union organiser and activist against child labour in 19th century America.Five things for the week ahead: RTÉ showcase another incredible Cork woman

Holger Smyth part-owns and runs Inanna Rare Books, which has recently opened a ‘rare book lounge’ at the former Hawthorn creamery near Drimoleague, Co Cork.We sell books: Cream of the book crop sold from former co-op

Milton Jones talks hecklers, Hawaiian shirts and the world’s favourite clever Irishman with Richard FitzpatrickMilton Jones: When one line will do just fine

After almost 70 years of trying the search goes on, but so far nothing has been found.Sky Matters: Whether we are alone in the Universe has exercised many great minds

More From The Irish Examiner