Stephen Cadogan: Forced sale a reminder of rural impact of economic setbacks

The sale of Peter Kingston’s Cradenhill herd of 1,000 cattle and the ongoing sale by tender of his 180-acre farm serve as a stark reminder of the rural impact of a setback in the agricultural economy.

Operation of the farm ground to a halt due to ACC Loan Management securing a judgment against the Kingstons for €2.45m, arising out of their failure to repay loans.

Not only has this removed a major contributor from the local economy; it has also resulted in some major debts for local businesses, which they may not be able to recover.