Cashmans bookies owe creditors €500k

The directors of one of Cork’s oldest chains of bookmakers have told a creditors meeting that the company owes €500,000 to creditors but holds just €10,300 in assets.

Cashmans Bookmakers went into liquidation earlier this month, having been in business in Cork for 40 years. It has six branches around the county, having sold off five other branches to Ladbrokes in 2009.

A statement of affairs presented to creditors and seen by the Irish Examiner revealed that the company owes €221,654 to the Revenue Commissioners, €54,465 to customers such as phone-betting account holders, €51,538 to creditors such as Crowleys DFK accountants, SIS, which provides television services to bookmakers, Openbet Retail, and to Turf TV.