O'Farrell's Blacktie owned by offshore shelf company in Virgin Islands

Blacktie, the formalwear hire chain that is preparing to appoint a liquidator, is ultimately owned by an offshore shelf company in the British Virgin Islands.

Ian Kehoe - avatar

Ian Kehoe

27th January, 2013
Niall O'Farrell: as a panellist on Dragons' Den, he has been one of the most visible entrepreneurs in Ireland. Photo: Tony O'Shea

Blacktie, the formalwear hire chain that is preparing to appoint a liquidator, is ultimately owned by an offshore shelf company in the British Virgin Islands, company documents show.

Niall O'Farrell, the high-profile entrepreneur who controls the chain, allocated shares in it to a British Virgin Islands company in early 2011 as part of a financial restructuring of the company.

O'Farrell is the director of Carana Holdings, which operates out of a PO box address in Tortola,...

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