Cullen car empire placed in receivership
Bill Cullen's car empire, Glencullen Holdings, has gone into receivership.
Ulster Bank has confirmed it has appointed a receiver to the company.
Mr Cullen — who fronted The Apprentice on TV3 — became Renault’s distributor in Ireland in 1986 only for the relationship to be terminated in 2011.
But the company has been struggling in recent years, recording a pre tax loss of almost €10.5m in 2009, and a further loss of €1.4m in 2010.
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