High tariffs on Irish whiskey exports to the US and economic uncertainty are among the challenges which led to the closure Killarney Brewing & Distilling Company.
That’s according to a statement from the company after it confirmed the unsuccessful conclusion of the examinership process.
The High Court appointed a liquidator for the company on Monday.
Last week, Killarney Brewing & Distilling Company announced it would cease operations, with the loss of over 50 jobs.
In a statement this afternoon, it confirmed the examinership did not result in a successful outcome.
The company says it faced significant and sustained challenges in recent years stemming from lasting effects of the COVID-19 pandemic; rising costs; and global supply chain disruptions.
It opened a €24 million brewery and visitor centre in Fossa over three years ago, and earlier this year reached a preliminary agreement to merge with a US-based strategic partner, which did not proceed.
In April, James Anderson of Deloitte was appointed interim examiner for the company.
The statement says this was in the hope of securing new investment to protect jobs and stabilise operations for the long term.
However, no suitable investor was secured within the timeframe set out by the court.
The High Court has now appointed Mr Anderson as liquidator.
Killarney Brewing & Distilling Company has expressed its thanks to its employees, noting their dedication, resilience, and passion never wavered throughout this time.
It also thanked shareholders, investors, partners, customers and the local community for standing by them at every turn.
