A provisional liquidator has been appointed by the High Court to logistics company Flancare Clonmel Distribution Ltd, which employs more than 200 people.
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It is hoped the majority of the jobs can be saved when the business is sold.
The company specialises in warehousing of products and distributes consumer products for a number of companies including Heineken and Dunnes Stores.
Flancare employs 130 people in Clonmel with 90 in Longford and 4 in Dublin.