Bán Árd crisis puts 60 jobs in jeopardy

THE future of Bán Árd Food and Retail Services hung in the balance last night with more that 60 workers fearing for their jobs.

The O’Sullivan family, owners of the cash and carry and food service company, are understood to be in negotiations with a potential white night investor to save the business.

The Irish Examiner understands that neither of rival cash and carry/symbol retail groups Musgrave or M&P O’Sullivan is the company negotiating with Bán Árd and their financial advisers. It is understood that a rival symbol store operator based outside Cork is in the lead position to strike a deal to ensure the continued future of the company.

Bán Árd is believed to be under financial pressure despite having an annual turnover of close to €30m last year.

Managing director Declan O’Sullivan was unavailable for comment on the difficulties facing the company, its staff, suppliers, and 2,000 customers as a result of the crisis at the firm.

Staff waited in vain for most of yesterday to hear what the future holds for their jobs and the business.

A 2pm and then a 5pm deadline passed but no further information was released to staff. It is believed that Bán Árd employees will be told this morning about the next moves at the company which was founded in 1987.

Bán Árd operates out of modern premises at Ballycurreen Industrial Estate in Cork where the company have invested heavily to develop the business.

In 2003 Bán Árd launched its symbol group Fine FoodFair with a €1m plus investment in the flagship store on the Douglas Road in Cork.

The symbol segment of the business had just expanded into Limerick with the opening of the independently owned O’Neill’s FoodFair shop on William Street.