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Construction
Examiner appointed to top construction firm
Building giant Pierse Construction applied for examinership at the High Court today after suffering €30m in bad debts.
PIERSE CONSTRUCTION, ONE OF the top construction companies in Ireland, has been appointed an interim examiner at the High Court today.
A statement from company said it supported the appointment of the examiner, according to RTÉ Radio One’s 5pm news.
The company said that “all taxes are fully up to date and no money is owed to the revenue”.
Legal representation for Pierse said the company was optimistic that restructuring would ensure its survival. The court heard that Pierse Construction, one of the country’s largest construction firms, is owed €30m in bad debts.
The company was involved in a number of Public Private Partnerships, including Dublin water schemes, service stations on national roads, and schools, RTÉ reports. Pierse is understood to have filed for examinership in order to protect its employees’ positions.
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