Roadbridge

Irish civil engineering company Roadbridge has entered receivership over “insurmountable financial challenges”. The Limerick-based construction firm, ...

He said officials are engaging with the company "as a matter of urgency". He added: "The Board recognise the support of all our stakeholders, including our bank, Bank of Ireland, in difficult circumstances as the directors explored every opportunity to save the company. "We are committed to working closely with the receivers now in order to get the best possible outcome for employees, creditors and stakeholders.”

Roadbridge directly employs 630 workers across Ireland, the UK and Sweden. A further 1000 indirect jobs will be negatively impacted, sources said.

It’s is a very difficult day for the workers, and we need to hear from the receivers now and what they’re intentions are,” Mr O’Donnell added. This is their livelihood and they should be the priority for the receivers and the government,” said Limerick Fine Gael TD Kieran O’Donnell. My fellow directors and I greatly regret having to take this step, but unfortunately, it was the only possible option at this time.” However he also noted a skills shortages in the industry and “prices for materials have gone up significantly in recent months” and he argued that “what we have seen in the past 20 years is too much emphasis on trying to levy the contractor with all of the risk on a project, risk should be apportioned to those best able to manage it; it is not a sin for a contractor to make a profit, there needs to be structures in place within government procurement that allows for this”. Limerick labour councillor, Conor Sheehan said he was “really concerned” the news may result in the Moyross road project “being delayed for up to two years” and he called on the department of social protection “to put in place a specialist team to deal with any redundancies”. “The Board recognise the support of all our stakeholders, including our Bank, Bank of Ireland, in difficult circumstances as the Directors explored every opportunity to save the Company. We are committed to working closely with the Receivers now in order to get the best possible outcome for employees, creditors and stakeholders,” Mr Murphy added.

The company founded in Limerick by the late Pat Mulcair in the 1960's employs 630 people in Ireland, the UK and Sweden, and is involved in some of the biggest ...

In a statement, he said officials in the Department of Enterprise, Trade and Employment and in Enterprise Ireland have been asked to engage with the company "as a matter of urgency". "It is with regret that, as result of insurmountable financial challenges, the Board of Roadbridge Holdings Ltd announces that it has requested Bank of Ireland to appoint receivers to the company," Roadbridge said in a statement this afternoon. "My fellow directors and I greatly regret having to take this step, but unfortunately, it was the only possible option at this time," Mr Murphy said in a statement.

In a statement on Friday, the Limerick based company which is one of the country's biggest civil engineering and construction firms announced it is to go into ...

Parteen native, Conor Gilligan departed his role as Chief Executive of the company over a month ago, bringing an end to his 31 year tenure with the business. We are committed to working closely with the receivers now in order to get the best possible outcome for employees, creditors and stakeholders”. This latest development is feared to have a two year setback on the LNDR.