A bid to rescue Irish poultry group Cappoquin has failed and the company's County Waterford production site will close within the next six weeks, a spokesperson for the group confirmed today (30 September).

Cappoquin, which processes some 220,000 birds each week and employs around 200 people, went into administration at the end of August after revealing losses of EUR7m (US$9.98m).

The company's administrators had hoped to find a buyer for the business.

It had been understood that UK poultry firm Derby Poultry had begun discussions with the liquidator for Cappoquin about a possible rescue bid. However, any talks appear to have fallen through.

Derby was unavailable for comment at the time of press.

"It had been hoped that the company would not have to close. Regrettably, this is not the case," Cappoquin told just-food.

The Irish Farmers' Association said the closure was "another devastating blow" for the Irish poultry industry.