Rose of Tralee
Future of festival secured
The future of the Rose of Tralee International Festival has been secured.
It follows an announcement by Chairman of the Rescue Group, Anthony O'Gara, that 98% of creditors have formally accepted the settlement terms offered by the company.
The members of the Festival of Kerry Limited unanimously endorsed restructuring proposals at a meeting last night.
Funds to rescue the festival have been pledged on the basis that creditors accept the settlement proposals and that the Festival of Kerry Limited agreed to a fundamental restructuring.
The process of settling creditors and restructuring can now go ahead.
