Sunday 11 December 2016

Eircom's sad and shocking day

Published 31/03/2012 | 07:25

Yesterday's appointment of an interim examiner to Eircom marks a sad day for the company, which was privatised amid such fanfare almost 13 years ago.

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While, with over €4bn of debt, the appointment of an examiner was inevitable, it still comes as something of a shock to see what is still a major Irish company reduced to such circumstances.

The good news is that Eircom's debts are the result of five changes of ownership in the space of just a decade rather than its trading performance.

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