Kerry Spring has ceased trading from today following an unsuccessful liquidation process.
A provisional liquidator was appointed to the brand – a provider of bottled natural mineral with manufacturing facilities at Ballyferriter, Dingle, Co Kerry – at the end of July.
The liquidator, Myles Kirby of Ferris & Associates, decided to continue trading for a period to seek a buyer for the business as going concern.
During the liquidation process, it was revealed in court that a decision by Dunnes Stores to discontinue ordering Kerry Spring products had a significant impact on the company.
The sale was conducted by McKay Asset Valuers & Auctioneers with advertising in the national press and international trade publications commencing on 16 August.
There were over 40 expressions of interest in the Kerry Spring business and at the request of interested parties the liquidator extended the deadline for potential buyers to 23 September.
The liquidator did not receive a satisfactory offer for the business as a going concern by the extended deadline and subsequently announced the company would cease trading from close of business today.
The Liquidator is working with the employees to ensure their redundancy and other entitlements are paid as quickly as possible.
Kerry Spring had 35 employees.
The assets of the company, including: Entire plant, machinery, vehicles, stock, brand, and other assets are now being offered for sale via McKay Asset Valuers.
The tender date for this sale is scheduled for 23 October 2015 and this will offer a final opportunity for interested parties to purchase the plant in situ for operational purposes.
