Management at Cappoquin Chickens has confirmed that the poultry producer will close with the loss of all full-time and seasonal jobs.
The winding down process is to start today and will take six weeks to complete.
Talks to save the company broke down yesterday and management say they have been left with no option but to close the company.
Cappoquin Chickens has been operating for nearly 50 years, run by generations of the O'Connor family from Cappoquin in west Waterford.
The company, which employs up to 250 people at certain times of the year, has been in financial difficulties for a number of years.
However, the global food crisis, which has dramatically increased the price of grain, has made things worse in recent months.
In a statement the Irish Farmers' Association says the closure is 'another devastating blow' for the Irish poultry industry.
Ripple Effect
40 to 50 egg suppliers and producers are also dependent on the company, which revealed during the summer it had debts of at least €7m.
Local producer Shane Kiely (right), who runs seven chicken houses with 180,000 birds, describes his future as 'very bleak.'
'Chickens is all I know,' he said.
South-East Correspondent Damien Tiernan will have more on this story on tonight's Six One News
