About 270 staff at the fish processing group Red Sail have been laid off by the receiver appointed to the companies last week. Mr Tom Grace of PricewaterhouseCoopers has still to decide whether to maintain production at the group's three plants in Louth, Wexford and Galway, while he tries to sell them as going concerns.
It is understood there are no plans for an immediate return to full production at the plants, however. About 160 staff have been laid off at the group's headquarters in Clogherhead, Co Louth, nearly 100 at Kilmore Quay, Co Wexford and about 15 at its facility in Galway.
Mr Grace's team was in consultations with local management of the plants yesterday to determine whether a skeleton staff should be retained to maintain some level of production.
The decision to appoint a receiver by Ulster Bank - understood to be owed about €7.5 million (£5.9 million) - came as a shock to staff and suppliers, who had received no indication of Red Sail's financial difficulties.
The group was formed in 1976 and produced a range of fish products for the home and export markets through its three companies, Red Sail Frozen Foods Ltd, Red Sail Kilmore Ltd and Red Sail Exports Ltd.
