THERE are fears this week for up to 150 jobs at the Ennis-based Whelan Group, following an application by the company in the High Court this week, which may determine its viability.
The Whelan Group, with facilities in Ennis, Limerick, County Cork and County Roscommon, is one of the biggest suppliers of cement products in the country. On Tuesday, the company made an application to the High Court under the Companies Act, seeking to lodge a number of affidavits on behalf of a number of companies within the Whelan Group, including the Whelan Group headquarters in Ennis, Limestone Quarries and Whelan Quarries. The case is listed to be back in the High Court on December 1.
Whelan’s have supplied stone, concrete, precast fabrics and road surfacing materials to the construction industry since 1972. The company was one of the main suppliers of stone on the recently finished Gort-Crusheen bypass.
There have been concerns about the financial situation of the group in recent times, as it became increasingly exposed to the downturn in the construction industry.
No statement was made by the company to The Clare Champion in relation to the High Court application this week but media reports quoted the company as stating that it was “business as usual”.
The Whelan Group is a member of the Ennis Chamber but CEO Rita McInerney this Wednesday said she did not wish to comment on the matter until it is concluded in the High Court.
A credit report analysing the Whelan Group this week deemed the company to be very high risk, with a credit score of just 10 out of 100. It further stated that the current accounts are out of date, as they were last updated on December 31, 2007. Analyst observations of this report stated the credit report is based on this group of companies. “There is a statistical correlation between late filing of accounts and business failure,” the report adds.