BUTLERS Engineering plant at Portarlington, Co Laois, is to close on Friday week with a loss of 130 jobs. A receiver was appointed to the firm six weeks ago when it was revealed that the company's debts totalled up to £20 million. One major Irish company, as well as two from Northern Ireland, are said to be, interested in purchasing the plant, but it is believed that no firm offer has yet been received.
Last week, the German steel firm, Preussag Stahl, appointed a second receiver, saying it was owed £1 million, with a guaranteed fixed charge on Butlers books of £600,000. Mr Ray Jackson of KPMG, the first receiver appointed, was unavailable for comment yesterday. However, Mr Jackson is attempting to sell the plant and safeguard its future. Since he took over, the plant has been working on existing contracts.
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