109 jobs lost at computer company

A COMPUTER company that expanded its manufacturing on the back of the Tesco Computers for Schools contract yesterday shut down with the loss of 109 jobs.

The jobs were lost when the High Court appointed a liquidator to iQon Technologies Ltd, Dundalk, after an examiner failed to produce a viable salvage plan.

Mr Justice Peter Kelly declared Michael McAteer, of Foster McAteer, as liquidator after being told iQon could not cope with its €7 million liabilities.

Yesterday, iQon’s managing director, Ciaran O’Donoghue, said after 18 years of building up the business it was devastating to see deficits for two years running cripple a previously profitable company.

He said throughout the two-month examinership the company expected to get sufficient backing to resume business.

“We were confident we had secured enough support and had a business plan in place we thought would see us through at 75% of what we had been.

“But there was a change of heart among one of the potential investors at the 11th hour, that is basically what scuppered the deal,” he said.

He described the moment he informed his staff they were unemployed.

“It was a magnificent group of people and they were crushed. However, I firmly believe that there is a great opportunity with the talent that is here for somebody else to build up a business,” he said.