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Cleary Doyle placed in receivership

THE Cleary Doyle building group, known for building the Wexford Opera House and Killeen Castle golf club, has been placed into receivership by NAMA.

The firm hoped to trade its way through its problems so the decision by NAMA was a "major disappointment", said a statement. "For the directors, our biggest regret is for our employees and the impact that this will have on the local and regional economy," it added.

The Cleary Doyle group was founded in 1961 and both founding shareholders, John Doyle and Eugene Cleary, remain actively involved in the running of the business, said the statement. In 2006, the group directly employed over 350 people, but this has dropped to 15 in recent times. NAMA for its part said the receivership was taken as a "last resort".

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