Receiver appointed to Image Showers group

THE Kilkenny-based Image Showers & Bathrooms has had a receiver appointed to the company.

The group, which is also active in the British market, employed 85 people at its peak.

Kieran Wallace, of consultancy group KPMG, confirmed yesterday he had been appointed receiver to the business.

Due to the building downturn in Ireland the group has seen its turnover collapse from €16 million to €2m last year, while the numbers employed fell from 44 at the end of 2008 to 15 at present.

Padraic Monaghan of KPMG, who is involved in the receivership, said it was too early to say what the outcome will be and if any part of the business can be saved.

It has a good supply of stock and a good property located on the Carlow Road, in Kilkenny.

It also has a business registered in Britain, Image Showers in Rugby Warwickshire.

Since the company was put up for sale by the receiver last week, about 9 out of 10 interested parties involved in the sector have expressed an interest in looking at the operation.

Mr Monaghan said: “We won’t know until early next week what the final outcome will be.”

While expressions of interest have been forthcoming it remains to be seen “if any of those will translate into real offers or not for the business”, Mr Monaghan said.