75 new jobs for restructured firm

Saturday, March 06, 2010

Cork: The Linen Supply of Ireland (LSI) has emerged from examinership with chief financial officer Joerg Lankers saying the company is delighted that the restructuring of the business had led to the creation of 75 extra jobs at its Cork plant.

This brings the total number employed at the plant in the Frank Boland Industrial Estate on the Mallow Road to 170 and the total number employed at LSI overall to 370.

LSI provides textile rental and laundry cleaning services to companies in the hospitality, healthcare and food industries and has plants in Dublin, Cork and Spiddal as well as logistics offices in Sligo, Limerick and Galway.

In the coming days the company will begin distributing a €5.4 million redundancy fund to more than 260 workers who lost their jobs last year.

During the examinership, LSI sought permission to repudiate or cancel leases held with several landlords. While the High Court refused the company permission, the Supreme Court subsequently ruled leases are contracts within the meaning of examinership legislation and thus could be repudiated.

This story appeared in the printed version of the Irish Examiner Saturday, March 06, 2010