ONE OF Co. Wexford’s best known pubs and music venues is this week fighting for its survival after ACC Bank threatened legal action unless the owner of the premises wrote to them by 5 p.m. yesterday confirming that he would not interfere with the actions of receivers called in on the bank’s behalf.
John Murphy, from Carrig-on-Bannow, is the publican at the centre of the matter. Yesterday, he spoke to The Echo about the situation which relates to his pub, Colfer’s, which he has run for almost two decades.
“I have been working here for the last 18 years,” he said.
In the interim Mr. Murphy has invested a lot of money into the business to make it a “comfortable, safe place for people to frequent” including re-roofing it and installing a new kitchen area.
“In 2007 and 2008 I was able to meet all commitments but I could see with the downturn there could be difficulties ahead,” he told this newspaper.
Discussions with ACC Bank resulted in an agreement being reached whereby Mr. Murphy paid interest only repayments on the mortgage relating to the premises.
“Then the interest rates began to drop so they weren’t happy with that and they put me back on interest and capital repayments,” he said.
“When it was interest only we were able to pay but with capital and interest it became difficult,” he added.
Mr. Murphy then said that the bank was not helpful and did not engage in renegotiating anything with him or his wife [the couple run the business].
“They wanted me to sell the premises and pay them whatever I got for it and then I would still have to give them the balance,” he said.
The situation came to a head within the last couple of months when the bank demanded the money owed to it and employed the services of a receiver.
“They arrived down here on Tuesday with some heavies from a security company and a locksmith,” said Mr. Murphy.
“They also had someone from an alarm company and it looked they were all set to come in, kick me out, and take over the premises,” he added.
Locals had noticed the receivers in the village earlier that day but no notification had been given to Mr. Murphy that they were going to arrive on Tuesday.
However, on that occasion he kept the receivers from entering the property due to a large number of people from within the local community who were in attendance.
The incident also occurred as school children were leaving nearby Danescastle National School which was another point that concerned Mr. Murphy.
“It happened in full view of the children and their parents which wasn’t nice,” he said.
“They then issued me a notice that if I don’t put it to them in writing by 5 p.m. today [Monday] they will issue court proceedings against me,” he added.
Mr. Murphy fully acknowledged that he owes the bank money but he said they are not willing to sit down and negotiate the situation with him at all.
He has also been overwhelmed by the level of support that he and his wife have received from within the local community and beyond.
“Other people have said to me there are only a stones throw from being in the same situation,” he said.
“The amount of people who showed up on Tuesday was incredible,” he added.
Mr. Murphy also highlighted the fact that the matter wasn’t political and that it was centred around him and his wife trying to keep their pub alive.
“I have no interest in politics,” he said.
“We are just trying to keep our business and premises alive,” he added.
He also said he just wanted to discuss options with the bank: “I would have had no problem with them coming to meet me and we coming to an amount that the pub could afford.”
“Everyone has taken a hit in the last 10 years in terms of quality of life and our customers have all taken a hit but the banks operate as if we’re still in the boom times,” he said.
“The bank has not taken a hit and they expect to operate at some level as if there isn’t a problem,” he added.
Mr. Murphy also criticised the Government and said it is only interested in taking in as much as it can for the Troika while ordinary people are left suffering and struggling.
Cllr. John Dwyer said the bank’s actions amounted to an attack on the community.
The New Ross Town Councillor, through social media, had asked for people to show their support to Mr. Murphy and others like him who are being targeted by banks in what he claims to be a very unfair manner.
When The Echo contacted ACC Bank in Dublin yesterday the organisation declined to comment on the matter.
