Several parties are interested in acquiring the troubled bottled mineral water company Kerry Spring Water, the High Court was told yesterday.
In July, the High Court appointed insolvency practitioner Myles Kirby as provisional liquidator of Sliabh Bhreandain Teoranta, trading as Kerry Spring.
The company runs its manufacturing facility at Ballyferriter, Dingle, Co Kerry.
The company had sought the appointment of a liquidator, stating that it had a deficit of €1.1m and was clearly insolvent.
Mr Justice Michael White today confirmed Mr Kirby’s appointment as liquidator and formally ordered the winding-up of the company.
Solicitor Gavin Simons, of Amoss Solicitors, for the company, told the court there were several parties interested in acquiring the business. Mr Simons said that, since his appointment, Mr Kirby had, in the interest of all parties, continued to run the business as a going concern. He said Mr Kirby hoped a sale would be concluded by the end of the month.
Previously, the court heard the company had sought the appointment of a liquidator on a number grounds, including the fact that one of its main customers, Dunnes Stores, had stopped ordering from Kerry Spring Water.
This had “a devastating effect” on the company, which had 35 employees.
The court had heard that Dunnes Stores had made its decision because of an odour from the bottled water and had claimed that there had been several complaints about this.
The court heard there was no health-and-safety issue.
It was Kerry Spring Water’s view that the Dunnes Stores decision to discontinue its orders had been disproportionate.
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