One of the biggest pub and night-club businesses outside of Dublin has gone into examinership.
The Tweedy Group in Waterford city currently employs around 160 people full-time and part-time. That number rises to 200 some weekends.
The application for examinership was granted in the High Court today. The group now has 100 days of court protection during which time the examiner will try to restructure finances.
The bar and entertainment group owned by Bob Tweedy includes Muldoon's, Ruby's & Oxygen night-clubs, the Woodman bar and Masons in Waterford city and Oscar's bar and restaurant on the Dunmore Road, Waterford.
All the bars and night-clubs are to remain open during the examinership process.
Bob Tweedy is the chairperson of the Irish Night-club Industry and is very well known across the country. He said the economic downturn was a major factor, as was the lack of credit from banks to finance projects, for the group going into examinership.
The matter is due back in the High Court next Thursday.
A figure has not been given as to how much the group is in debt but it is believed to be more than €10m.
