200 jobs in danger as pub group struggles to survive
Friday October 30 2009
TWO hundred jobs hang in the balance as one of Ireland's largest pub and nightclub groups fights for its survival.
The threat to the 200 jobs in the south east came when the Tweedy Group based in Waterford city was granted examinership at the High Court in Dublin.
Its owner, Bob Tweedy, had sought the protection of the court while it tried to resolve its financial problems.
The Tweedy Group, which owns some of Waterford city's leading pubs and clubs -- including Muldoon's, The Woodman Bar, Mason's, Oscar's and Ruby's and the Oxygen nightclubs -- has debts exceeding €10m.
However Mr Tweedy told the Irish Independent last night that he is hopeful the group will be able to find the financial backing to make his business viable and save 160 full-time and 40 part-time jobs.
"It's a difficult time but we felt we weren't left with any choice," he said of going into examinership.
He cited the credit crunch as the main reason for his current financial woes. The company has spent the past three years seeking planning permission to re-fit some of the venues to add three large smoking areas.
However once permission was finally secured, the banks were unwilling to lend.
"The process now is to try to save jobs and restructure investment. We were able to satisfy the court that we have more than a reasonable chance of getting through it," he said.
Meanwhile, two American multinationals made jobs announcements on the same day that the US officially exited recession.
Computer software giant Hewlett-Packard announced it will be expanding its research and development teams based at its software and IT plant at Ballybrit, Co Galway, and will be adding about 50 staff.
Tanaiste Mary Coughlan is also to announce today the creation of 40 jobs by the California-based online retail company Buy.com at a new facility in Galway.
Broadband
Also yesterday, Mullingar-based Satellite Broadband Ireland announced plans to create 30 new jobs on the back of a contract from mobile phone company 3 to roll out broadband services in rural Ireland under the National Broadband Scheme.
The company will provide broadband services to some of the 223,000 businesses and residences identified in the scheme.
Its co-founder Kevin Ryan said he is optimistic the jobs will have a positive knock-on effect on the economy as broadband becomes available throughout the country.
- Allison Bray
Irish Independent
