Directors of Sixmilebridge mart confident of speedy return to profits

THE directors of Sixmilebridge mart are confident that the community drive behind its reopening will also make it profitable in record time.

The mart has been given a major overhaul since June, when the directors bought it as a going concern for €300,000 from Golden Vale Marts (GVM). Closed since late 2009, the reopening of the weekly Saturday mart is a triumph of community will, with around 600 investors, most of them farmers from Clare and Limerick, each having invested €500 to fund the purchase.

Located in the heart of a pivotal crossroads town in Co Clare, Sixmilebridge mart did a thriving trade in fat stock cattle sales during the 1980s and 1990s. Now, conscious of market changes, the board has lined up a series of themed shows and sales of bullocks, cows, weanlings and fat stock from the August 27 reopening to October 8.

GVM had only bought Sixmilebridge mart a few years previously. As part of its recession restructuring, Golden Vale also closed and sold off Rathkeale mart in Co Limerick, but that property will no longer function as a mart.

Thus, the Sixmilebridge directors hope they can capture trade from both Clare and Limerick, capitalising on new road networks and the tunnel under the Shannon. One director, Irish Cattle and Sheep Association general secretary Eddie Punch, said the group hopes to attract more investors from Clare and Limerick.

He said: “We raised the €300,000 in hard times, which is encouraging. The money was pledged by farmers who handed over €500 cheques, which were held in trust by a local solicitor. The deal took so long to close that we had to get people to re-issue their cheques.

“We thought people might change their minds at that point, but very few did. The cattle trade is going well at the moment. While this does mean people are less keen to sell, we still believe this mart can be a viable entity and can make a marginal profit within a few years.

“Our first objective is to keep borrowings down to a minimum. The goal of making a profit is a challenge, but we’re confident we can achieve that. Some marts had the benefit of selling a premises in the good times. We haven’t had that lift, but we are hoping to get more shareholders on board from Clare and Limerick.”

The new board is chaired by Pat O’Reilly. Eddie Punch is secretary, with the other seven seats being taken up by local farmers. Sean Ryan has been appointed manager of the mart.

The grand reopening is on Saturday, August 27, with a general sale of bullocks and cows. The following Saturday, September 3, features a weanling sale. A general sale the next Saturday is followed by a weanling show and sale on the 17th.