An electronics company based in Cork is to close with the loss of 138 jobs after efforts to save the plant failed.
Receivers were appointed last week to Hormann Electronics at Blackrock in Cork. The company has been based in the city for more than 30 years.
Hormann Electronics was a leading-edge technology company when it was first set up but since then Eastern Europe and the Far East have caught up.
The firm assembles and tests printed circuit boards. Today the same work is being done at a fraction of the cost in countries in Eastern Europe and the Far East.
Joint-receivers David Gilbert and Liam Dowdall of BDO Simpson Xavier were appointed to Hormann last week after the company got into financial difficulty.
They have conducted a review of the company and have been trying to salvage at least some of the jobs. Their efforts have failed, however, and today the workers were told that the plant will shut by the end of the month.
117 workers will lose their jobs today; the other 21 will be gone by the end of May. Many of the workers left the plant in tears this lunchtime.
