Sunday May 31, 2020

‘Poor financial management’ at Maximum Media before examinership

Interest has cooled on a possible purchase of the web publisher due to the coronavirus pandemic

Aaron Rogan

News Correspondent

@aarrogan
17th May, 2020
40 jobs in the Irish operation were lost and Niall McGarry, the company’s founder, stood down from his position

The financial backer of Maximum Media found “poor financial management” at the publisher before seeking to appoint an examiner last week.

The High Court appointed Shane McCarthy, a partner in accountancy firm KPMG, as an interim examiner to the Joe.ie and Her.ie publisher after an application by Beach Point Capital.

Beach Point said there was “poor financial management”, and that it had discovered previously undisclosed payment plans with the Sheriff in...

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