Fossett's Circus has been helped towards recovery by partying Google staff at Dublin's RDS.
Google took over all of the Ballsbridge venue for a staff Christmas party that reputedly cost the company €300,000 and, fortunately for Fossett’s, the circus company was already in place to provide entertainment.
Fossett’s Brothers Circus has been playing to packed arenas since it took up a Christmas and New Year residency at the RDS soon after applying to the Circuit Civil Court for protection against its creditors.
Barry Lyons, solicitor for examiner Joseph Walsh who is stitching together a financial safety net for the threatened company, told the court the examinership was progressing satisfactorily after 68 days.
Mr Lyons, of Lyons Kenny Solicitors, asked Circuit Court President Mr Justice Raymond Groarke for an extension of court protection until January 16th next.
He said the circus had benefited from part provision of the fun package Google availed of for its staff party.
Financial tightrope
Earlier the court heard the Lucan, Co Dublin, circus had been walking a financial tightrope for years and, despite a sometimes shaky balancing of income against expenditure act since 2010, had been facing potential collapse in October last.
Accountant Mr Walsh believes that under a scheme of examinership the company has a reasonable prospect of survival that will save the jobs of 16 employees and the future of the big top.
The famous family business can trace its origins back to the 1880s to a circus troupe started by Cork man George Lowe who had toured Ireland with a travelling troupe before emigrating to the US.
His participation in a number of variety shows there brought him to the attention of William Cody, aka Buffalo Bill, whose troupe he joined, specialising in the fields of magic, juggling and trick-riding horses.
Lowe returned to Ireland in 1887 and embarked on tours of his home country with his own circus troupe. In 1918 an accomplished horseman Edward Fossett joined Mr Lowe’s circus eventually marrying his daughter, Mona Lowe.
The couple had six children all of whom followed their parents into the business eventually setting up the Edward Fossett and Sons Circus which has been handed down through the family.
The court was told a family dispute led to High Court proceedings which started in 1992 and did not end until 2008 with a €500,000 settlement debt which still hangs over the company.
Judge Groarke granted the extension of the examinership until mid January.
