CREDITORS owed thousands of pounds by the former Belfast bar Filthy McNasty’s will get nothing, a new report from the administrators confirms.
Bachus Inns Ltd, which traded as Filthy McNasty’s collapsed in January this year, owing around £3.6 million to its creditors.
It followed a court application from HMRC, seeking £246,000 in unpaid tax.
But the administrators from FRP Advisory said just £25,000 may be raised by the liquidation of Filthy McNasty’s ‘wet stock’, furniture and equipment.
The London firm was called in by lender HUK 154 Ltd on January 15 2025, one day before HMRC’s case was due to be heard in court. HUK 154 is owned by Hilco Capital.
A new report from the administrators suggest their own fees are likely to exceed £25,000.
However, the report states that £1.2m owed to Bachus Inns' secured creditor is expected to be met via an associated company.
Filthy McNasty’s closed for the last time on December 31 2024, with all staff made redundant.
Both Bachus Inn Ltd and its landlord FMN Properties Ltd, are owned by Co Tyrone businessman Peter Dolan.
Other hospitality venues in the Bachus Group, including Sweet Afton, Rita’s, The Perch and The Points, are not directly affected by the insolvency.
FMN Properties is also behind the 201 new student accommodation units being developed on the site of the former pub.
The work to demolish Filthy McNasty’s to make may for the development, began one day after the administrators were appointed.
FMN Properties has also secured planning approval to redevelop a car garage next door into a new pub.
The latest administrators report reveals HMRC is owed around £319,000 by Bachus Inns, while £94,078 is outstanding with LPS.
Other companies owed thousands of pounds by Bachus Inns include Anzac Wines, Molson Coors, BT, Go Power, United Wines and Coca Cola.
FRP said there is nothing left to pay them.
Despite FRP’s report suggesting “employees were paid in full for their arrears and holiday pay,” a letter from the firm last month told staff they would not be paid any outstanding wages from Bachus Inns.
Staff were instead advised to register with their local jobcentre and seek unpaid wages, accrued holiday, redundancy or payment in lieu of notice from the Department for the Economy’s redundancy payments service.
FRP Advisory was contacted for comment.
