The loss of 60 jobs in Kenmare is being blamed on the high cost of fish.
Kenmare Select announced yesterday they were to cease trading with immediate effect, resulting in the loss of over 20 full-time and 40 part-time and seasonal jobs.
Manager Sean Jones says the company was struggling financially in recent years due to rising costs, with price increases of up to 50% on salmon being reported.
The company, which was established in the early 1990s, had held several meetings over the past number of months to solve the financial crisis, including staff taking voluntary pay cuts.
Jones says the company could not pass all price increases onto its customers.