Odessa records net loss of €483,940 for 2015

Odessa Club and Restaurant recorded a net loss of €483,940 in the 12 months to the end of September 2015, according to accounts filed with the Companies Registration Office. At that date, the company’s liabilities exceeded its assets by €90,287, the accounts state.

Odessa sought court protection from its creditors in February 2015 and went into examinership with debts of more than €1 million.

The accounts state the company emerged from examinership in June 2015, with new investment and a renewed management team.

In the accounts, the company said “the economy continues to improve, especially in the licensed trade and food industry”.

The company employed 27 staff in the 12 months to the end of September 2015, with employment costs totalling €1.27 million for the 12 months to that date. Wages and salaries amounted to just over €1.03 million.