Rescue plan saves 250 waste firm jobs

A multi-million euro rescue plan has saved 250 jobs at Barna Waste with Cognito Asset Management buying the company out of examinership.

The move was funded by Bank of Ireland and it is understood that a number of Barna Waste’s creditors were forced to take a writedown on the debts owed to them.

The largest creditor was Bank of Scotland Lloyds, which was owed €9m, when the company sought the courts protection through the examinership process.