Blarney Woollen Mills denies tax decision claim

BLARNEY Woollen Mills has denied its decision to take the company private has anything to do with paying tax to the Irish exchequer.

Its finance director, Robert Reardon, confirmed yesterday that the group has transferred shares in the companies to the British Virgin Islands.

When asked why, Mr Reardon said the company’s accounts had been “misrepresented” in the past.