A liquidator has been appointed to Ostán Na Rosann hotel and leisure centre in Dungloe, Co Donegal.
Accountant Jim Stafford of Dublin firm Friel Stafford was appointed liquidator to MMB Hotels, the firm behind the hotel, which has debts of €1.4 million, including a mortgage of €817,000 owing to National Irish Bank.
Difficult trading conditions and high salary costs were blamed for the liquidation.
The hotel employs about 30 people.
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The firm has valued the 48-bedroom hotel at €1.25 million. Twelve customers who paid deposits for accommodation and weddings are owed €4,260.
