Follow @PoliticsIE
 
 
 
Page 1 of 2 12 LastLast
Results 1 to 10 of 15

Thread: McInerney Homes seeks court protection

  1. #1
    Politics.ie Member Fides's Avatar
    Join Date
    Apr 2010
    Posts
    4,441
    Mentioned
    0 Post(s)

    Default McInerney Homes seeks court protection

    RTÉ Business: McInerney Homes seeks court protection

    Another long standing Irish company in deep trouble. Shares have been suspended. Not altogether surprising given the sector it is in but McInerney managed to weather previous storms.

  2. #2
    Politics.ie Member Dreaded_Estate's Avatar
    Join Date
    Sep 2007
    Posts
    3,695
    Mentioned
    0 Post(s)

    Default

    It will be interesting to see how NAMA deals with McInerney

  3. #3

    Default

    Another long standing construction industry victim. 100 years plus they have been trading. Survived the Great Depression, the 1950s and 1980s.

    Hope they can sort something out. But there is no market for them and they have too much debt. Tragic.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  4. #4
    Politics.ie Newbie
    Join Date
    Feb 2010
    Posts
    36
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Dreaded_Estate View Post
    It will be interesting to see how NAMA deals with McInerney
    Don't think McInerney loans are NAMA destined yet.

    If the examiner works faster than NAMA on this, then any losses will have to be made up from the banks own capital, and we all know who is writing those cheques..

  5. #5
    Politics.ie Member
    Join Date
    Feb 2007
    Posts
    23,231
    Mentioned
    0 Post(s)

    Default

    yeah i was waiting for this.

    ill put my hand up and say im interested in investing in this but im waiting till after they do the rights issue they have to do.

    IF they survive this.

    it was one of the dodgier ones (IMO) that i was looking at where i wouldnt mind losing the small amount i was gonna put in.

    poor bastards have gone through the wringer recently but i still think it has a chance of getting through if their creditors dont get the chance to pull the plug.

  6. #6
    Politics.ie Member
    Join Date
    Feb 2007
    Posts
    23,231
    Mentioned
    0 Post(s)

    Default

    wanted to bump this instead of creating a new thread

    game over im afraid.

    http://www.rte.ie/news/2011/0708/mci...-business.html

    i feel kinda sad. they built alot of the houses around the area i grew up in.

    still glad i never went in.

  7. #7

    Default

    Jaysis. They were big.

  8. #8
    Politics.ie Member
    Join Date
    Feb 2007
    Posts
    23,231
    Mentioned
    0 Post(s)

    Default

    aaaand.

    theyre gone.

    McInerney to go into voluntary liquidation - RT News

    didnt want to start a new thread on this so bumped this one.

  9. #9
    Politics.ie Newbie
    Join Date
    Mar 2011
    Posts
    69
    Mentioned
    0 Post(s)

    Default

    Looks like word on the street was spot on.

    Looking back on the top 12 Builders (with Development divisions) from 2006, the list of casualties is staggering,

    McNamara; Pierse; Fleming; P. Elliott; Zoe; Bowen; McInerney and with Rhatigan & Walls about to go, that only leaves 3 of the top 12.

    Thats before we talk about the top Developers and plethora of SME Builders that have gone tits up.

  10. #10
    Politics.ie Member cozzy121's Avatar
    Join Date
    May 2009
    Posts
    4,842
    Mentioned
    0 Post(s)

    Default

    Good riddance.
    "WAKE UP! THE RICH ARE RAPING YOU!"

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •