The owner of a Dublin window and doors company that closed suddenly at the end of November after taking deposits of more than €1.5 million from over 100 customers has apologised for the “distress and frustration” caused.
In a statement issued on Friday evening, Darragh Kane, the man behind the company, also committed to working with the liquidators to fulfil “as many outstanding orders as possible”.
Late last month, provisional liquidators from Grant Thornton were appointed by the High Court to DK Windows & Doors, based in Dublin 12. It has been supplying windows and doors to both developers and consumers since 2005.
The company said in the High Court petition it had built up €1.5 million of deposits but had run out of cash. It was taking orders and promoting a Black Friday sale just days before the liquidators were brought it.
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Customers who contacted The Irish Times detailed how they had paid thousands of euros in deposits before being repeatedly let down. One woman feared she had lost close to €50,000 paid to the company.
[ ‘She’s a broken woman’: Homeowner paid €9,000 to liquidated Dublin windows firmOpens in new window ]
“After 19 years in business this is an incredibly upsetting and challenging time and I want to extend my deepest apologies to all customers staff and suppliers affected by the closure of DK windows and doors,” said Mr Kane in the statement.
“Despite my best efforts to keep the company running and meet our obligations we were unable to overcome the significant challenges we faced,” he continued. “I want to reassure customers that I am working closely with the appointed liquidators Grant Thornton to try and fulfil as many outstanding orders as possible. They’re overseeing the process and I urge customers to contact them directly for guidance and updates.”
[ ‘She’s a broken woman’: Homeowner paid €9,000 to liquidated Dublin windows firmOpens in new window ]
He concluded his statement by saying he “fully” understands “the distress and frustration this situation has caused and I remain committed to supporting the liquidators to ensure transparency and to find a solution for everyone as we navigate these next steps”.
The company’s accounts show a heavy reliance on customers’ deposits, with the auditors warning of the risks from the practice in 2022.
[ Customer fury as Dublin windows company shuts with thousands in depositsOpens in new window ]
In an annual filing to the Companies Registration Office, the accounts — approved by the company’s directors in late November 2023 and lodged just over a year ago — noted that DK Windows was “dependent on external sources of funding, primarily through bank facilities and customer deposits”.
However, it said there was a “reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future”.
The Competition and Consumer Protection Commission has made contact with the provisional liquidators “seeking clarity for customers who paid deposits” although it is likely they will be considered unsecured creditors and will be last in the queue for repayment from any realised assets.
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