Receivers appointed to Irish Pride
Irish Pride, one of Ireland's biggest bread manufacturers, has confirmed that the company has gone in to receivership.
Print12 June 2015
Irish Pride, one of Ireland’s biggest bread manufacturers, has confirmed that the company has gone in to receivership. With facilities in Co. Mayo and Co. Wexford, the company has stated that the change in control of the company will not result in disruption of trading, or with the payment of its 340 staff’s wages.
RTE reports that the company was sold by investment group One51 to WHW Bakeries, for an undisclosed sum last year, and that receivers Declan Taite and Pearse Farrell of Duff & Phelps have been appointed as joint receivers.
In a letter to staff by managing director John Keenan and subsequently made public by the Mayo News and RTE, Keenan said the development comes “against the background of difficult trading over time, and results ultimately from particular market and cost pressures.”
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