THe RECEIVER appointed to Kilkenny Limestone Manufacturing is confident that the business can be sold as a going concern with out the loss of any jobs.
Bank of Ireland appointed Brian McEnry as receiver last Wednesday (November 2) to Kilkenny Limestone Manufacturing. The company had been trading at a loss for the last year or two but the receiver is confident a buyer had been found.
Kilkenny Limestone Manufacturing is one of the largest employers in Paulstown. The company employs 60 people. The receiver are hoping that by selling the company as a going concern they will be able to protect all of the jobs.
“I hope that this will be one of the few receivership that will be completed successfully,” said Mr McEnry. He said that negotiations with an overseas company who were customers of Kilkenny Limestone Manufacturing, were at an advanced stage. “An awful lot of the groundwork for the sale of the company has already been done,” he said.
Mr McEnry said that Kilkenny Limestone Manufacturing had been badly hit by the downturn in the economy and the severe weather in the last two years which had effected its ability to extract the rock from the ground. Kilkenny limestone has to be cut in solid slabs from the rock face using diamond tipped saws to keep the stone in one piece. The stone is valued for its ornamental uses and is much more valuable than limestone blasted in other quarries.