Almost 120 staff at Cork electronics company Hörmann Electronics have lost their jobs today after receivers decided the firm had no future.
Receivers David Gilbert from BDO Stoy Hayward in London and Liam Dowdall from BDO Simpson Xavier in Dublin were appointed on May 9th. Following a review of the business they decided it was necessary to close the company immediately.
In a statement Mr Dowdall said: “We have conducted an immediate review of the business, and it is with real regret that it has been necessary to close the business with the loss of 138 jobs.”
The receivers said a redundancy package was paid, although the details were not immediately available.
Staff were informed of the decision at 11am, and 117 have lost their jobs today. The remaining 21 staff will continue working until the end of the month.
Hörmann Electronics manufactured a range of electronic equipment.
