The owners of a well-known and historic South Tipperary hotel are bidding to save the business and its jobs.
Kilcoran Lodge near Cahir will be applying to have an examiner appointed today (December 17th).
The hotel located on the old N8 employs 37 people – the examinership would give the owners the opportunity to save the local business and retain the jobs.
Kilcoran Lodge was bought by Paul Bowes and his daughter Triona in 2018 for just under €1.68 million.
The deal was funded by three Chinese investors under the immigrant investor programme and one of the investors is now seeking repayment of the loan.
The 25-bedroom hotel stands on 20 acres of landscaped land and was brought up from a three to four star rating.
Turnover in 2020 was just under half a million, while the turnover up until September of this year was lower at €414,000.
Joseph Walsh of JW Accountants, Grand Canal Street Upper, Dublin, has agreed to act as examiner.
According to The Irish Times, Barrister for the owners, Mr Ross Gorman, believes that the company and the jobs associated with it, could be saved under a scheme developed by the examiner, as there would be court protection for the owners from their creditors.
