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Dublin: 6 °C Friday 22 November, 2019
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Over 200 jobs lost across four counties as family business goes into receivership

Excol Oil Limited has gone into receivership, with the immediate closure of all its interests.

McCormack's filling station in Sligo
McCormack's filling station in Sligo
Image: Google Maps

FIFTEEN BUSINESSES RUN by the same family company across the midlands and west of Ireland have been closed with over 200 jobs lost.

Excol Oil Limited – which operates ten filling stations, two oil distribution facilities and car sales and garage businesses – has gone into receivership, with the immediate closure of all its interests.

The company is run by the McCormack family.

The Anglo Celt reports that 208 jobs were lost with immediate effect when the businesses closed.

The affected premises are located in Cavan, Leitrim, Meath and Sligo.

It is reported that Bank of Ireland had called in receivers on the company.

The receiver Grant Thornton said in a statement that Aengus Burns and Michael McAteer had been appointed a receivers to the company.

The statement reads:

Grant Thornton can confirm that Aengus Burns and Michael McAteer have been appointed as receivers to [Excol Oil Limited] which operates ten filling stations across the North West, two oil distribution facilities (McCormack Fuels Limited, Sligo and Breffini Oil Distribution, Cavan) and McCormacks car sales and garage businesses in Sligo. Our first priority is to brief employees at all 15 locations and process their entitlements for redundancy.

Grant Thornton also said that the receivers were “making every effort to sell the various businesses”.

On its website, McCormack’s Oil describes itself as a family-run business established in Sligo Town in 1984.

Read: Huge boost for Ballinasloe and Dungarvan, with 260 jobs on the way

Read: Good news: Travel software company to create 100 jobs in Dublin

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Cormac Fitzgerald

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