Saturday 25 February 2017

Building firm has some serious questions to answer

Dearbhail McDonald Legal Editor

ONE minute Pierse Construction, one of the largest construction firms in the country, was petitioning the courts for protection, arguing that it had cash-flow difficulties caused by bad debts of about €30m on completed works.

An independent accountant's report revealed that the company, along with a related company Pierse Building Services, had a reasonable prospect of survival.

The next minute, Pierse, which employed 700 at its peak, withdrew its application for court protection.

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