Fears are growing for the future of over 130 jobs at a Co Waterford chicken processing company.
The High Court yesterday appointed an interim examiner to Cappoquin Poultry Limited and Cappoquin Poultry Holdings, which have debts of €6m.
CPL's largest creditor Henry Good Feed Suppliers - which is owed €3.9m - petitioned the court for the appointment - claiming the business is insolvent and to prevent its assets being stripped.
The Chairman of the Irish Farmers Association's National Poultry Committee Alo Mohan, says it’s a disappointing development: "We were very hopeful in 2008 when the new buyers had come in.
"In the last four years the farmers have done everything, including taking large amounts of credit to the company to ensure its viability and unfortunately up until this day where it has been put into administration."