Pierse Construction set for liquidation

The future of one of the top three building companies in Ireland and its 109 employees looks bleak today.

Lawyers for Pierse Construction have told the High Court that the appropriate course for the company is to appoint a liquidator.

The firm went into examinership last month with bank debts of around €36m.

Just a week ago, Mr Justice Peter Kelly expressed concern about the future viability of the company and described the €212m deficit in a liquidation scenario as 'astonishing'.

The matter will come back before the judge this afternoon.