The most recent financial results for Liberties Media, the parent of Liberties Press, show the company’s profit and loss account slipping further into the red – from minus €203,674 in the year to the end of July 2014 to minus €228,011 a year later.

It has made efforts to cut costs by reducing stocks over recent years but has seen a rise in the amount of money owed to it by debtors. As a result, it faced bills of €267,802 over the 12 months to the end of July 2016.

Seán O’Keeffe and fellow director Margaret Egan were paid a total of €9,833 between them in the year to mid 2015, but received no contribution to their pensions, unlike the previous year.

Mr O’Keeffe took a loan of €27,381 from the company in that year. He had previously been owed €20,797 for earlier loans.