Alo Kavanagh Cars goes into receivership

One of the country's best-known Mercedes Benz dealerships has become the latest motor casualty of the recession.

The most recent records at the Companies Office for the 27-year-old enterprise, dated October of last year, showed Alo Kavanagh Cars owed short-term creditors almost €1.8m and long-term creditors almost €1.9m.

The company suffered losses of almost €680,000 last year and over €800,000 in 2008 while the two directors, Mr Kavanagh and Derek Kelly, were paid salaries totalling €275,000 between them in 2009.

Article Published: 21/10/2010