Latest news with #KillarneyBrewing&DistillingCompany
RTÉ News
22-07-2025
- Business
- RTÉ News
Killarney Brewing & Distilling company confirms unsuccessful examinership
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.
Irish Examiner
17-07-2025
- Business
- Irish Examiner
Over 50 jobs lost as Killarney Brewing & Distilling Company ceases operation
More than 50 staff at Killarney Brewing & Distilling Company have been told the firm is to cease operations at both of its premises, including the plush multi-million euro brewery, whiskey distillery and visitors' centre overlooking the lakes of Killarney in Fossa. Millions of euro have been invested by the company in the Fossa premises and large distillery, which opened in 2022, and which includes a restaurant, a number of bars, and large function rooms, catering to leisure, tour and corporate business. However, the covid pandemic, as well as the more recent tariff threat, have impacted its business potential severely, delaying the original opening, as well as its expansion into the areas of weddings and other functions. The original KBD brewery premises, in a former mineral water factory in the Muckross Road, is also impacted. All 55 staff are to lose their positions, it has been confirmed locally, after staff were called to meetings. The company has strong local roots and was anchored in Killarney emigrants to Chicago and the US. Upwards of €30m has been invested in the luxury premises in Fossa on the Ring of Kerry. However, plans to merge with a US strategic partner fell through earlier this year, and the company went into examinership in April. At the time, KBD remained hopeful the process would be a viable path to secure the company's future. 'Like many in the drinks manufacturing industry, KBD has endured unprecedented challenges during and following the covid-19 pandemic. These included surging raw material costs, significant supply chain disruptions, delays in opening the Fossa distillery, whiskey inventory supply gluts, and broader geopolitical uncertainties. Collectively, these issues have placed significant pressure on the business and negatively impacted both revenue and profitability,' it said in April. The continuing threat and uncertainty over tariffs and a downturn in coach and other tourism locally have also impacted the business. The announcement to staff, during Killarney Race Week, normally the high point of the summer season in Killarney, is a particular blow, one local businessman who did not wish to be named said. The examiner appointed to the company is making an application to the High Court on Friday morning. A spokesperson for the examiner said it would not be appropriate to comment at this time. Read More Killarney Brewing company enters examinership aiming to save 100 jobs
