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.
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.