Meat processing business, Olhausen is to shut three plants after calling in the receivers. It had been in negotiations with two potential buyers, Irish Food Processors and Malton Foods but an agreement was unable to be found in the time allotted.
The plants are in Blanchardstown, Coolock and Monaghan, but had been suffering financial difficulties of late, and the board had been working with advisers and with the bank with a view to finding a purchaser for the business. However, the process was not successful leaving the board with no option but to seek to appoint receivers.
Joint receivers and managers Jim Hamilton and David O’Connor commented: "It is with regret that the company has been forced to cease to trade and unfortunately we have today had to inform the employees that all positions within the company are now redundant. Our primary focus is now on completing all the necessary paperwork in order that employee entitlements may be processed as quickly as possible. In tandem we will now seek a purchaser for the remaining business and assets."
Olhausen was originally a retail butcher shop starting life in 1896 in Talbot Street, Dublin. Organic growth, merger and acquisition saw it grow into one of Ireland’s foremost suppliers of traditional quality pork based meats. Over 160 jobs are expected to be lost.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
