The property company behind the Butler Arms Hotel in Waterville has gone into receivership.
It's one of 14 property companies worth €60 million linked to Paddy McKillen Jnr put into receivership by lenders Relm finance.
The Press Up hospitality group, part-owned by Paddy McKillen Jnr, bought the Butler Arms Hotel in August 2022 from the Huggard family and has run it over the past few years.
The hotel is due to reopen on April 9th and has bookings for this year.
The Business Post is reporting that KPMG have been appointed as receivers.
Radio Kerry has contacted the receivers for comment.
Fianna Fail councillor Norma Moriarty told Radio Kerry that she has contacted the management group running the hotel on behalf of staff and suppliers for an update.
Paddy McKillen Jnr released a statement to the Business Post saying that the tenants in its properties are unaffected and that it is the property companies themselves that are in receivership.
He said he was disappointed with the development and that he is continuing to try and find a resolution to it.
Last year receivers were also appointed to a dozen restaurants linked to the Press Up group.
