‘It’s not the end’ – landlord Jay Bourke promises to recover from his broke

“Of course it’s not the end of things,” he told the Irish Independent.

“I’m not under a bumper in Mariupol and I’m not dead like so many of my friends.

“Of course, after so much work, it’s annoying. I’ve worked hard and done a lot of things.”

The businessman, who once had pub and restaurant interests with more than 1,000 employees, has total debts of 13.7 million euros.

The tax claim that led to his bankruptcy related to six judgments issued between 2012 and 2018 totaling €435,917.

Mr Bourke, 55, said the bulk of that sum related to a capital gains tax liability after he sold the Bodega bar in Cork.

Referring to a change in the law that has reduced the minimum bankruptcy period to just one year, he said: “It’s only a 12-month process.

“It’s important that people understand the bankruptcy process and that there is a payback. It’s not what it used to be. Until recently it was 12 years.”

Mr Bourke added: “It’s important that people and society understand that entrepreneurs create a lot of jobs and generate a lot of income for the state.”

The businessman owes the tax authorities a total of €558,000, but no judgments have been obtained for €122,000 of this sum.

His bankruptcy comes just weeks after his efforts to secure a €12.2million personal bankruptcy agreement (PIA) to write off debts were dismissed by the High Court.

The deal was based on some of his debts, between €570,000 and €750,000, being repaid from a return on an investment in insurance broker XS Direct, which he expected to go public.

Those hopes were dashed when the brokerage firm went bankrupt in February.

Had Mr Bourke managed to obtain the PIA, the deal would have allowed him to keep his €1.4million family home in Rathmines, south Dublin.

The bankruptcy filing was filed by attorney Garret Flynn, who appeared on behalf of the Collector General at Byrne Wallace Solicitors.

This was agreed by Mr. Bourke’s attorney, Michael Vallely, who was instructed by Brennan & Co Solicitors.

Judge Brian O’Moore has ordered the bankruptcy.

That Mr. Bourke agreed to the order came as a surprise.

Earlier this month, he told the Indo Daily Podcast that he will try to strike a deal with Revenue. He had previously lost a number of tax appeals.

The vast majority of Mr Bourke’s debt – some €12.3million – came from his interest in Bellinter House, the hotel in Co Meath he co-owned with the late music promoter John Reynolds. The amount is owed to Pepper Finance Corporation.

Pepper had rejected his PIA application. It could only have recovered €65,000 had the PIA been approved, claiming that the arrangement unfairly prejudiced its interests and that it would have a better financial return if Mr Bourke were declared bankrupt.

In the Indo Daily podcast interview, Mr Bourke claimed Bellinter’s debts had been settled and that he was planning to fight it in the High Court.

However, his bankruptcy now calls this approach into question.

During the same interview, he admitted that he made business mistakes.

“You base the decisions you make on the best information you have. You can be wrong, you can have incorrect information, you can make a mistake. I’ve been in the business a long time now and I’ve made a lot of mistakes. You should think about it and think about it,” he said.

Mr Bourke has been in the pub, restaurant and hotel business since 1989, initially opening Wolfman Jack’s restaurant in Rathmines.

He then opened the Rí Rá nightclub, The Globe bar, Eden front lounge and restaurant in Dublin, as well as the Bodega and Savoy in Cork, the Garavogue bar in Sligo and the Café Bar Deli group.

In 2017 the High Court disqualified him as company director for seven years due to the liquidation of the former Shebeen Chic pub on South Great George’s Street in Dublin.

He was manager of Berlin’s D2 bar on Dame Street, Dublin, when it was at the center of controversy over a boisterous brunch event that broke social distancing rules in August 2020.

The Berlin D2 incident resulted in Gardaí successfully appealing for the renewal of his license.