The Clare Champion Clare news, sport, entertainment and local notes
DOCUMENTS filed by the liquidators to Shannon company Avara state that the winding up process should probably be completed within six months.
While the date of commencement of the winding up was as far back as July 11 of last year, even in recent weeks there has been speculation that new investment may be found to retain some of the jobs there.
The recently filed Liquidator’s Statement of Proceedings said that from July 11 of last year to July 10 of 2020 there had been total realisations of €4,889,409.65 and total disbursements of €3,468,199.98, leaving cash in hand of €1,421,209.67.
At the date of the commencement of the winding up there were assets of €1,190,478, while secured creditors came to €1,560,000 and unsecured creditors of €19,574,336.
Only recently it emerged that the IDA had spoken to a Swiss company about possibly taking over the Shannon plant. “The workers who are left at Avara have spent over a year now in constant worry for their jobs – many of them have spent decades working at this plant,” said Deputy Cathal Crowe.
“I’m delighted to hear that the IDA is in talks with an investor to possibly buy out operations at the factory.If this comes to fruition, it could be a lifeline for those jobs at the eleventh hour.
“I welcome this news and will do what I can from my end, at a political level, to ensure that something positive comes from this and that these upcoming job losses are averted.”
Fine Gael’s Joe Carey was also positive about potentially saving jobs. ““I have spoken with the owners of the plant on several occasions and have remained in contact with the IDA. A potential purchaser has visited the site recently and further engagement is expected over the coming weeks. I will be doing everything I can to assist the process.”
Owen Ryan
Owen Ryan
Owen Ryan has been a journalist with the Clare Champion since 2007, having previously worked for a number of other regional titles in Limerick, Galway and Cork.
