Creditors of Kerry hotel unlikely to be paid

Creditors who are owed more than €6m by a Kerry hotel are unlikely to get any money.

Killarney's Quality Hotel which closed almost two weeks ago, with the loss of 50 jobs, held a creditors' meeting today.

The company which ran the hotel, Carvanna Properties, owes almost €6.5m - however, it only has assets of around €248,000.

Only the Revenue, Killarney Town Council and workers are guaranteed their money.

Once they are paid, that leaves 119 creditors - ranging from multinationals such as Heineken to small local suppliers - who are owed more than €6.2m.

The hotel also owes more than €15,000 to people who joined its leisure centre.