Killarney Brewing & Distilling Company (KBD) has confirmed that the examinership process it entered into has concluded without a successful investment outcome.
Last week, the company’s 54 staff were told that the business would cease operations resulting in the loss of their jobs.
Yesterday, the High Court appointed James Anderson of Deloitte as a liquidator over KBD.
“Like many in the drinks manufacturing industry, KBD has faced significant and sustained challenges in recent years, stemming from the lasting effects of the Covid-19 pandemic, delays in opening our state-of-the-art distillery in Fossa, global supply chain disruptions, rising input costs, and ongoing geopolitical and trading pressures,” KBD said in a statement.
“More recently, high tariffs on Irish whiskey exports to the US and wider economic uncertainty have further impacted the business.”
Earlier this year, the company had reached a preliminary agreement to merge with a US-based strategic partner, but the partner ultimately chose not to proceed.
In response, KBD entered the examinership process in the hope of securing new investment, a move which proved to be unsuccessful.
“Despite tireless efforts, no suitable investor was secured within the timeframe set out by the court,” KBD said.
“The company would like to express its sincere and heartfelt thanks to our exceptional employees, whose dedication, resilience, and passion never wavered throughout this incredibly difficult time,” the company added.
