Keco falls foul of building crash

Ennis-based building firm, Keco Construction has gone into receivership blaming the collapse in the construction industry as the reason.

Tom Doheny of accountancy firm Deloitte has been appointed receiver and is currently preparing a statement on the company’s assets and liabilities.
At the height of the building boom the company, set up in 1998 by Michael Cotter and Eugene Keane, employed 75 people. However, because of the downturn in the construction industry, staff numbers had dropped to five.
Keco Construction confirmed that it could no longer trade due to the collapse of the housing market, the general decline in the construction industry and the failure of some of their major debtors to meet their commitments.
“Every possible avenue has been explored by us and every effort made to avoid this day and we deeply regret any losses that may be incurred by our creditors, sub-contractors and employees,” the company outlined in a statement.
“We were fortunate to work with a dynamic and skilful team who took place in the Keco brand. Despite the fact that some of these workers and sub-contractors may suffer financial loss, we are very grateful for the support and goodwill of so many of our former associates.
“It is unclear at this time what the immediate future may hold for the company but our hope is that the varied and creative skills of the former Keco team will play an important role in the regeneration of the construction industry locally and beyond in due course.”