40 jobs go as McKeon Motors is wound up

Up to 40 jobs could be lost at McKeon Motors in Kells as a provisional liquidator was appointed last week to wind up the business. Local businesses and residents have expressed shock at the closure of the business, which was one of the biggest employers in the centre of the town. In the High Court last week, Ms Justice Mary Laffoy appointed Paul McCann as provisional liquidator, noting this was not the first such "tragic" case in the motor trade brought before her in the last 18 months and she adjourned the case to 11th August. The court had heard that BMW began removing its vehicles from the company's premises this month, while other creditors sought to take vehicles after hearing it was in difficulty. In an affidavit, Micheal McKeon said that, despite directors' loans of €1.1m being applied to the company this year, it had not been possible to obtain additional support from BMW, which is the most profitable part of the business. The judge was told that McKeon's had 71 employees and that, after restructuring and redundancies in 2008, sales of €38m that year dropped to €16m in 2009. The latest available 2008 accounts for McKeon Motors showed the company owed creditors more than €12million. It is understood the company had been refused overdraft facilities that would allow it continue trading. The company held the franchise for BMW, Mini, Opel, Mitsubishi and Kia. The dealership was set up by Micheál McKeon in 1980 and, in recent years, the company redeveloped its two showrooms in Kells town centre. Mr McKeon is also a director of Emdan Developments Ltd, which has carried out construction work for Aldi, along with other projects in Kells. The cathaoirlceach of Kells Town Council, Conor Ferguson, said the loss of so many jobs and wage packets in Kells was a major blow and he called on the Government bodies to put their heads together to prioritise job creation in Meath. He said that Meath received the least funding for job creation than any of its neighbours and it had become a jobless blackspot. Cllr Ferguson said he hoped that McKeon Motors would get back in business and that those who had lost their jobs could be taken on again. The president of Kells Chamber of Commerce, Jess Olohan, said that in his 30 years in business, Micheal McKeon had been very popular and she hoped he would be able to keep the business going. She said the loss of 40 jobs would be a devastating blow to the town. "Hopefully, his business skills will see him back in business," she said. Ms Olohan said it was important now, more than ever, for local businesses in Kells to support one another and to shop and do business at home. She pointed out that, over the years, McKeon Motors, had been a very generous sponsor to various community projects in the town. Cllr Tommy Grimes said the closure of the business was a terrible loss and people were in shock at the closure."It is dreadful news; he was a good employer and we hope that he can get the business back up and running again," said Cllr Grimes.