Documents indicate Flood business may have been failing

BUSINESSMAN Dermot Flood may have been in financial difficulties, it emerged yesterday.

The disclosure comes in returns made to the Companies Office, earlier this year.

Documents, submitted in February, showed the family-owned business, of which he and his wife Lorraine were directors, made only a small profit of €5,189 last year — compared with €40,036 in 2006.

The company, Sean Flood Water Pumps Limited — which takes it names from Dermot’s father — was mainly engaged in the sale and installation of water pumps.

The business is situated beside the family home in Clonroche near Enniscorthy.

The accounts show money owed to creditors increased from €27,660 in 2006 to €49,421 last year.

Over the same period, the amount owed to the company by debtors nearly trebled from €40,111 to €118,202.

Even though the company appeared to be failing, the couple, who each owned one company share, were still paying themselves more than the business was generating. The documents show that pay and other benefits in 2007 totalled €102,144, compared with €73,040 in 2005.

There were reports that Mr Flood may have called the health service requesting help with depression.

He was said to have been distraught after not being able to get the help he said he needed.

A spokesperson for the Health Service Executive (HSE) refused to comment on whether Mr Flood was turned away by staff.

“The HSE will put in place any necessary supports for the family and others affected by the tragedy,” she said.

But, she stressed, the health authority would not be making any comment in relation to Mr Flood. “It’s private,” she said.

Mr Flood, who was born in March 1967, had worked for the company since it was founded in 1998. It provided water pumps for landscaped gardens and new houses, as well as being experts in sinking deep wells.

The business had flourished during the building boom.

Mr Flood also came from a well-known sporting family. His uncle, Tim Flood, won senior all-Ireland medals in 1955 and 1956 and his cousin, Sean Flood, was part of Wexford’s All-Ireland winning team in 1996.

Ms Flood, formerly Kehoe, a pilates and yoga teacher, who had worked in insurance, was a cousin of Irish football international Kevin Doyle.

The manager of Doyle’s club Reading, Steve Coppell, paid tribute to the striker for turning out to play against Wigan on Saturday after being told of the tragedy.

The couple’s children, Julie and Mark, both attended the local national school. Mark played for the local hurling team and Julie was an avid Irish dancer.