A McDonald's Franchise operator who runs six outlets, including one in Leitrim, has been hit with an alleged misappropriation of funds totalling almost half a million euro. A report in the Irish Independent says the alleged misappropriation was by an ex-employee.
Glenellen Restaurants Limited, owned by Elaine Sterio, employs over 400 people and runs six McDonalds restaurants.
These are located in Monaghan, Carrick-on-Shannon, Dundalk, Drogheda, Navan, and Balbriggan.
According to the Irish Independent, new accounts show profits before tax reduced by 16% to €981,378 due to the alleged misappropriation of funds by an ex-employee.
This totalled €479,908.The amount of people employed in the company also reduced from 320 to 307, whilst pay to directors reduced dramatically from €1.27m to €231,151.
Despite this, revenues at the company were boosted after the opening of Leitrim's first McDonalds in Carrick on Shannon, with the creation of 90 jobs. Post tax profits for the business for 2023 totalled €789,728.
