Petroleum product distribution group Toughers Oil Distributors Ltd has reported a pre-tax loss of over €60 million in its annual accounts for 2011.
The loss is mainly accounted for by disposal of assets and land stock devaluation.
An independent auditor's report, accompanying the results, expressed doubt about the group's ability continue as a going concern.
The company, in its statement, said it believes it can continue to operate into the future "with the continued support of its bankers" and said its outlook was "cautiously optimistic" for the 2012 trading year.
It noted that it enjoyed good relationships with its main bankers, AIB and Bank of Scotland.
Toughers Oil is principally involved in the distribution of petroleum-related products and the operation of service stations.
More recently it diversified its business to include a chain of shops, pubs and restaurants.
It has also been involved in the purchase of land for redevelopment.
It employs more than 160 people.
