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More than 600 jobs at risk when recipients are assigned to Roadbridge construction company

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RECRUITERS have been appointed to Limerick-based construction company Roadbridge, threatening more than 600 jobs at the company.

His team said they had faced “insurmountable financial challenges” and asked the Bank of Ireland to designate recipients. It is understood that the Bank of Ireland owes Roadbridge some 35 million euros.

Roadbridge previously appointed IBI Corporate Finance to find a buyer for the business or a potential investor.

Founded in 1967, Roadbridge employs 630 people directly in Ireland, the United Kingdom and Sweden. The company is controlled by the Mulcair family and has been an important and highly regarded employer in the Midwest region for decades.

Construction and civil engineering company has carried out a large number of large projects.

These include the construction of a new runway at Dublin Airport, the holiday village of Center Parcs in Co Longford and the N17/N18 Gort to Tuam motorway. It has also worked in the construction of wind facilities, data centers and pipelines.

Although Roadbridge has a strong source of contracts worth more than 700 million euros, it operates on low margins.

“We have worked tirelessly over the past several months to find solutions to the serious challenges facing the company,” said Roadbridge president Aidan Murphy.

“Me and my fellow directors deeply regret having to take this step, but unfortunately it is the only viable option at this time,” he added.

“The Board acknowledges the support of all our stakeholders, including our bank, Bank of Ireland, in these difficult circumstances as directors sought every opportunity to save money. company,” he said.

“We are committed to working closely with payees now to get the best possible outcome for our employees, creditors, and stakeholders,” added the president.

The recipients were Stephen Tennant and Nicholas O’Dwyer of Grant Thornton.

https://www.independent.ie/business/more-than-600-jobs-at-risk-as-receivers-appointed-to-construction-firm-roadbridge-41437371.html More than 600 jobs at risk when recipients are assigned to Roadbridge construction company

Fry Electronics Team

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