Reputation and profile offer little protection from construction collapse

THE appointment of an interim examiner to Pierse Construction is another reminder – if one were needed – of how long-standing reputation and profile offer little protection.

While there is optimism that Pierse – which has been highly active in Irish construction for more than 30 years – can survive and continue to grow, yesterday’s move (on the back of a stalled house-building market and mounting outstanding debts which seem unlikely to be repaid to the company) emphasises the mounting problems within the construction sector.

Established in 1978 by Ged Pierse, the company grew quickly into a leading player – and one of the largest companies – in Ireland’s growing building and civil engineering industry; spread as it has been across the residential, commercial and PPP/public sector construction areas.