Lagoa: council-owned company lost over €100,000 last year, even though it was not trading

querenca The council owned company that has run the loss-making Fatacil annual fair in Lagoa has been under pressure for years to explain how such a popular event consistently manages to lose money.

When the current council administration took over, Lagoa’s mayor, Francisco Martins, said in 2013 that Fatasul was to undergo a full audit covering the past three years in an attempt to bring some clarity to the staggering €700,000 in debt accumulated by Fatasul.

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