Clarence Hotel gets continued support

Accumulated losses at the Clarence Hotel in Dublin fell slightly last year, according to accounts for Brushfield Ltd, the company under which the hotel trades. Accumulated losses at the end of 2012 were €2.37 million, down from €2.45 million at the end of the previous year.

The company continues to meet day to day working capital requirements by way of interest-free loans from its shareholders, according to the accounts, and the support will continue for the foreseeable future.

Shareholders' loans at the end of the year were €769,583. The company is owned equally by businessmen Derek Quinlan and Paddy McKillen, and by Alison Hewson, wife of Bono, and David Evans (the Edge), with the latter two shareholders being represented by way of their company, Lorijudd Investments.

The directors of Brushfield are Liam Cunningham and Ronnie Delaney.