Marlborough Intl calls in receivers

One of Ireland’s largest recruitment companies called in receivers tonight after suspending its shares in Dublin and London because of the ‘‘uncertainty’’ of its current financial condition.

The Marlborough International company was founded in 1992, and due to the success of a recruitment drive at the height of Ireland’s Celtic Tiger economic boom, its shares rose from the 1997 flotation price of 74p (€1.22) to a height of £3.26 (€5.35) at one point three years ago.

At the time of today’s suspension the shares were trading at 10p (€0.17).

The company announced the appointment of Ernst and Young as receivers after failing to sell two British operations.

Last November, Marlborough reported losses of €1.2m for the six months to August.