By Michael O’Farrell
Investigations Editor
CYCLING legend Stephen Roche’s Mallorca tourism firm has been declared bankrupt after the one time world champion failed to show up in court in Spain.
One of Ireland’s most treasured sporting heroes, Roche famously won the triple crown in 1987 with epic victories in the Giro d’Italia, the Tour de France and the World Road Race Championship.
But now control of Roche’s Spanish cycling tourism firm, Shamrock Events SL, has been granted to a court-appointed administrator tasked with recovering debts of at least €600,000.
The majority of the firm’s liabilities – many of which date back to 2017 – are owed to high-end hotels in which Roche housed clients who booked cycling tours in Mallorca with him.
These include the fourstar Ponent Mar Hotel and Hotel Son Caliu in Palma Nova, and the Sky Senses Hotel in Santa Ponsa.
Earlier this year one creditor, travel firm World Spry Services, petitioned the courts to open a criminal investigation into Mr Roche and his Spanish firm, while others initiated bankruptcy proceedings.
The petition accused Mr Roche – whose firm turned over millions annually before hitting trouble in 2017 – of trading fraudulently before going on the run from Spain to avoid his creditors.
But speaking to the Irish Mail on Sunday on Friday, Mr Roche denied he had gone on the run and pledged to find a way to settle his liabilities.
‘To come along and say I haven’t been in contact is totally, totally, totally unfounded,’ he said.
‘I’ve been in close contact with everybody. I haven’t been in Mallorca for close personal reasons. It’s not because I’ve run away.
‘I’m not denying I owe the money. I do owe the money but I will definitely refute any suggestion I ran away and wasn’t going to pay.’
Mr Roche did not attend any of the Spanish court hearings initiated by creditors in recent months, and the bankruptcy of his firm proceeded in his absence.
In a candid and emotional interview with the MoS in Budapest in April, he said he was afraid that he would be arrested if he returned to Spain.
But on Friday Mr Roche confirmed the criminal accusations against him had been dropped, though he still risks having his personal assets seized if he is found to have acted recklessly.
‘That’s gone now – that’s not a problem any more but when I go back I want to go back with money in my pocket, or a solution in my pocket,’ he said.
‘At the moment I’m working on solutions.’
Last week, courtappointed administrator Manuela Serrano contacted the MoS in a bid to trace Mr Roche, who was said to be ‘missing’.
Ms Serrano has been placed in control of Shamrock Events SL by court order and will be responsible for divesting any assets the firm may have to creditors.
Potential assets include the firm’s website, stephenrochecycling.com, which has been directing clients to book tours with a separate firm owned by former professional cyclist Guido Eickelbeck.
In recent days Mr Roche has made contact with the administrators, who are seeking a meeting with him in Spain next week.
‘I’ll definitely meet her ASAP but I’ve only received her email in the past five minutes and I’ve forwarded it to my lawyer and hopefully we can put something together to meet her next week,’ he said.
Asked about the possibility of his personal assets being seized, Mr Roche said: ‘We’re working on that now. It’s all fresh now.
‘I got a document there just last night [from the administrator] and I’ve just forwarded it now to my lawyer to see what they think.’
Mr Roche’s known assets include a €600,000 stake in a St Tropez development site which is stalled due to legal complications.
Another business interest, a share in a Porsche dealership in France, was forced to close after a number of cars were stolen.
Mr Roche told the MoS that he wanted to co-operate with the administrators but was hampered because a creditor in Mallorca had retained his computers, files and business documents.
Mr Roche also questioned the manner in which some of his creditors had acted.
‘All I can say is I always had a very close relationship with the different directors of the hotels and they knew my situation and I had promised them to pay,’ he said.
‘The owners decided they were unhappy with this and they decided to come after me – but by coming after me and by confiscating all my work equipment how can I work?’
When interviewed last month, Mr Roche was alternating between new cycling projects in Budapest and Geneva. In recent weeks he has been present at some stages of the Giro D’Italia.
