This is called a “Phoenix” scam. (where a company is deliberately liquidated leaving creditors/employees high and dry…but then the same people re-open the business under a new company name) I have gotten numerous phone calls from business owners about these scams in Clonmel, Mallow, Portlaoise and beyond. There are networks of shady business people making millions from it. It needs to be taken very seriously, but the laws aren’t enforced. White collar crime just goes unpunished.

Posted by Fred Bassett