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).
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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.
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By GlobalData“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.
