SOME 350 jobs at Linen Supply of Ireland have been saved as the High Court has approved a scheme of arrangement drawn up by the company’s examiner.
Linen Supply of Ireland will successfully come out of examinership on March 3rd. Not only will this prevent the loss of 350 jobs across its plants and offices, but it also means that it can distribute a fund of €5.4 million to workers who were made redundant.
The company’s chief financial officer Jorg Lankers said it is looking to the future “with renewed confidence following the restructuring of the business”.
Linen Supply of Ireland provides textile rental and laundry services to the hospitality industry, which has been badly hit by the economic downturn.
When the company went into examinership last September, its workforce stood at 566, but some 260 of these workers have since lost their jobs.
The company has taken on about 50 new employees to work in areas of the business that have an increased workload as a result of the restructuring. Most of these jobs are based in Cork. This brings the company’s current headcount to about 350.
