Millions of euro in compensation is set to be paid to suppliers adversely affected by the recent move into receivership of leading bakery firm, Irish Pride.

Around 80 jobs are expected to be lost at Irish Pride — one of the country’s leading bakery businesses — despite it being rescued.

Irish Pride Bakeries, one of the largest bakeries in Ireland, has gone into receivership.

Irish Pride bakery has gone into receivership, it has emerged.