Atomic Sports collapses

The firm cited reasons including the economic downturn and the fall in value of sterling. The company left behind debts of €650,000.

Established by young entrepreneur Thomas O’Connell, Atomic Sports marketed and sold a range of products, including the KMX and a range of trikes, pogo sticks and scooters.

The company’s products were sold in Hamleys, John Lewis, Dunnes Stores and Harrods.

Neil Hughes, managing partner of Hughes Blake, has been appointed as a liquidator.

Creditors were told the company had suffered significant losses over the Christmas period as a result of currency fluctuations. Most of the company’s goods were exported to Britain and the fall in sterling resulted in mounting losses.

The company owes unsecured creditors €200,000, while the Revenue Commissioners are owed in the region of €150,000.

Banks and financial institutions are owed a further €150,000, while O’Connell also invested personally in the company.