Conor McGregor Forged Stout takes massive €7.7m hit in one year

Oh dear...

New abridged accounts filed by McGregor’s Forged Stout Distribution Ltd reveal that it recorded post-tax losses of €4.98m last year.

Separate accounts filed by McGregor’s Forged Stout Production Ltd also show that it sustained post-tax losses of €2.72m in 2024.

Accumulated losses at the two firms at the end of last year totalled €15.95m, with € 10.17 m at Forged Stout Distribution and € 5.78 m at Forged Stout Production, per The Irish Mirror.

The business was forced to focus on international distribution after it was reported that Forged Stout has secured a distribution agreement in the Nordics region, including Finland, Sweden, and Norway, as well as 15 other new markets.

Several companies connected to McGregor have filed accounts in recent days, while another is Jemi Ventures Ltd, which handles the boxer's Black Forge Inn in Crumlin in Dublin 12.

According to new accounts, Jemi Ventures Ltd saw post-tax losses of €244,588. This was an increase on the post-tax losses of €216,095 in 2023.

Now, the company recorded a loss after taking into account non-cash depreciation costs of €366,187, which showed that the firm recorded an operating profit before the depreciation costs are taken into account.

Numbers employed by the company in 2024 increased from 48 to 54, and the abridged accounts don't reveal staff costs or revenues for the year.

A note attached to the accounts for the pub and restaurant business reads "the business focuses on delivering high-quality dining experiences, including the preparation and service of meals".

McGregor Sports and Entertainment Ltd, another McGregor firm, provides the financial firepower for connected McGregor firms, and it increased its activities in 2024.

The new account shows that by the end of last year, the amount owed to the firm by Forged Stout Distribution was €8.79m compared to €4.45m at the start of 2024.

The amount owed to McGregor Sports and Entertainment by McGregor’s Forged Stout Production Ltd at the end of last year was €8.53m compared to €6.72m at the end of 2023.

Numbers employed by McGregor Sports and Entertainment Ltd declined from 30 to 28 last year, and that included 24 engaged in sales and administration.

The company recorded a post-tax loss of €1.45m in 2024, which included a €446,968 adjustment to the tax charge for previous periods, per the Irish Mirror.