'High tariffs' dealt further blow to Killarney Brewing & Distilling as company confirms unsuccessful end of examinership process
The premises, which opened in 2022, includes the plush multi-million euro brewery, whiskey distillery, and visitor centre overlooking the lakes of Killarney in Fossa.
The company said high tariffs on Irish whiskey exports to the US and wider economic uncertainty further hurt the business and had compounded previous challenges arising from the pandemic and ongoing global tensions.
"Like many in the drinks manufacturing industry, KBD has faced significant and sustained challenges in recent years, stemming from the lasting effects of the 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," the brewery said on Tuesday.
"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 to protect jobs and stabilise operations for the long term.
Last week saw the mayor of Killarney and local councillors call on the Department of Enterprise to push for every possible support to help the distillery, but KBD said that despite "tireless efforts, no suitable investor was secured within the timeframe set out by the court."
Speaking on its closure, the brewery concluded: "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.
"We are also deeply grateful to our shareholders and wider investment community for their support and belief in our vision, and to our loyal customers, partners, and the local community in Killarney who have stood by us at every turn.
"We remain proud of what we've built together and the craft, care, and creativity that defined our journey."
The large distillery opened in 2022, expanding on the operation which began in 2015 in Killarney town.
Millions of euro has been invested by the company in the Fossa premises and distillery, which includes a restaurant, a number of bars, and large function rooms, all catering to leisure, tour, and corporate business.
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