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169 jobs on the line as liquidator appointed to Limerick jewellery company

A liquidator has been appointed to Andersen Ireland after financial losses at the company.

Image: Niall Carson/PA Wire

ALMOST 170 JOBS are on the line at jewellery manufacturer Andersen Ireland in Limerick after a liquidator was appointed to the company today.

The move is expected to result in a wind-up of the custom jewellery company, located in Rathkeale.

The liquidator from KPMG, who was appointed by the High Court at the request of the company, is expected to see if any parts of the business can be saved.

Andersen Ireland makes costume jewellery and accessories. Staff had already been placed on a three-day week prior to the decision to shut the factory earlier this month.

The parent firm had said at the time that a liquidator would be appointed on 23 September 2013.

The timing of the decision took some by surprise.

SIPTU, which represents some of the workers, questioned why the company had sought the liquidator ahead of a creditors meeting planned for next week.

“This act by the company could well eliminate the possibility of finding new owners for the business and the possibility of maintaining jobs,” said organiser Denis Gormalley.

SIPTU suggested that Ulster Bank, which is the biggest business creditor of the company, could step in to prevent the liquidation of the company’s assets and have a receiver appointed instead, averting the job losses.

Previously: Talks next week over possible job cuts at Limerick jewellery company >

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