Future of Cork Pride festival in doubt as operators call in liquidators

"The proposed liquidation of Cork LGBT+ Pride CLG is a huge blow for diversity, equity and inclusion (DEI) supporters in Ireland, with this year's Pride parade in the city attracting an estimated 5,000 participants. The organisation also publishes an annual magazine and is linked to the Work With Pride professional business network. Cork LGBT+ Pride became a company limited by guarantee, or a non-profit, in 2019."

"A meeting of creditors of Cork LGBT+ Pride is to be held on Wednesday in Midleton, according to a notice in the Irish Daily Star. During the meeting, the company will propose Gerard Murphy of Gerard Murphy & Co Accountants as its liquidator. The Sunday Independent understands the insolvency has come about due to a debt Cork LGBT+ Pride owes a creditor. It is further understood the company is not being forced into the proposed liquidation by any creditor."

"In July, Damien O' Halloran, vice chair of Cork Pride, told the Irish Independent that committee members had been fearful they could lose sponsors due to the rhetoric coming from the US. However, he said the festival had received huge financial support. "A lot of our sponsors are large US multinationals and pharma," he said. "We thought we might lose a couple of our big sponsors but we didn't, actually, so that was encouraging.""

Cork LGBT+ Pride CLG has proposed liquidation after becoming insolvent because of a debt owed to a creditor. Directors have scheduled a meeting of creditors in Midleton and will propose Gerard Murphy of Gerard Murphy & Co Accountants as liquidator. The company is not being forced into liquidation by any creditor; directors are complying with their obligations under the Companies Act. Cork Pride staged successful events this year, including a parade that attracted an estimated 5,000 participants, publishes an annual magazine, and is linked to the Work With Pride business network. Committee members reported strong financial backing from large US multinationals and pharmaceutical sponsors.

Read at Irish Independent