Yesterday's announcement of 180 job losses by Delta Homes (Ireland) Ltd in Macroom, to take place immediately, dealt a major blow for the third time in five years to the mid-Cork town.
The company, which makes bathroom and kitchen pods for the construction industry, had experienced financial difficulties recently and sought new investors.
Five years ago Macroom suffered 670 jobs losses when US-owned multi-national General Semi-Conductors Ireland closed.
After that collapse Taoiseach Bertie Ahern promised that American pharmaceuticals firm Elan would move into the former GSI plant on the outskirts of the town and create up to 300 jobs but the move never materialised.
In 2003, the long-established family owned Neville's Bakery, which supplied bread to Dunnes Stores, said it would close with the loss of 50 jobs.
In 2004, Delta Homes began leasing the former GSI plant, moving there from Cobh where it had employed 75 staff and it was expected the company would continue to expand in Macroom with job numbers projected to rise to 300.
The firm had been set up in 2002 and within two years of being established, Delta Homes was supplying some of the biggest names in the construction industry including O'Flynn Construction, Laing O'Rourke, John Paul Construction and PJ Walls.
The company which had a turnover of €9 million in 2004 continued to grow last year when it increased turnover to over €17 million and increased its workforce to 180 staff.
But the failure to fill a lull in contracts this autumn led to yesterday's announcement.
Delta Homes confirmed it had invited the Bank of Scotland (Ireland) to appoint a receiver but a company spokeswoman said no details were available yet on what redundancy payments staff would receive.
"The board of directors made strenuous efforts to secure additional investment in the last six weeks to protect the interests of employees and creditors and very much regrets that it has no alternative but to take this action," the company said in its statement.
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