Europe

Co-operative Poultry Products in Cootehill closes

A County Cavan chicken co-operative has closed with the loss of 90 jobs.

Workers at Co-operative Poultry Products in Cootehill were told on Monday.

The company said it had tried and failed to sell the business as a going concern.

In a statement, the company said it was "with great regret that we announce that we are left with no alternative other than to request Bank of Ireland to place our business in receivership".

It said its business had become loss-making, citing substantial feed price rises, rising energy costs, poor market prices until recently, and low quality imports.

All of the factors are presenting a grave risk to many players in the entire poultry industry, it added.

Simon Coyle of Mazars has been appointed as the liquidator for the company.

The union SIPTU said it would be seeking an urgent meeting with the liquidator.

SIPTU organiser, Jim Finnegan, said: "The closure of this long established co-operative will have a devastating effect on the local community. Not only must 90 workers and their families deal with the loss of their livelihoods but more than 25 local growers have also lost their source of income."

"At a brief discussion on Monday I made clear to the liquidator that SIPTU will be seeking the prompt payment of the workers redundancy entitlements."