Liquidator appointed to Kerry Spring Water
Published 01/08/2015 | 02:30
A provisional liquidator has been appointed to bottled mineral water company Kerry Spring Water after the High Court heard it was insolvent.
A decision by Dunnes Stores to stop ordering its products for its stores had "a devastating effect" on the company which has more than 35 employees, the court heard.
Kerry Spring has a manufacturing facility at Ballyferriter, Dingle, Co Kerry and most of its employees are based there.
As of May this year, the company had a deficit of €1.1m and was clearly insolvent, the court was told. Mr Justice Paul Gilligan appointed Myles Kirby as provisional liquidator, and the case returns to court on August 24.
Separately, 300 pharmaceutical jobs are being created at a new research and production facility in Co Tipperary.
The 200,000 sq ft premises in Cashel, which was formerly the Johnson and Johnson plant, has been bought by US-based drug manufacturer Amneal Pharmaceuticals LLC.
The investment is supported by IDA Ireland and the Department of Jobs.