Northern Ireland

Lough Erne owner Jim Treacy suffers second setback

lough erne resort aerial view
Image caption The Lough Erne five star hotel and golf resort opened in October 2007

The former owner of the Lough Erne Golf Resort has suffered another setback after his supermarket business in Dublin was placed into receivership.

Jim Treacy has owned the Supervalu in Churchtown for more than 20 years.

He had used the supermarket as security for loans advanced by Bank of Scotland Ireland (BoSI) for the golf resort.

The resort was placed into administration last week but is continuing to operate. It owes the bank more than £25m.

The supermarket, which is profitable, is also continuing to operate.

Mr Treacy's Lough Erne Golf Resort near Enniskillen was placed into administration last week.

In a BBC interview this week, Mr Treacy attacked Bank of Scotland Ireland (BoSI) for what he said was its failure to take a long term view of potentially successful businesses.

BoSI has ceased to operate as a conventional bank.

It was shut down by its parent company, Lloyds, after suffering catastrophic losses on property loans.

Its loan book is being wound down by a company called Certus.

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