Over 170 jobs have been safeguarded at The Mount Wolseley Hotel in Carlow further to an investment package worth €7.5m being made by Brehon Capital as the hotel successfully exits examinership.
This is the first successful provincial hotel examinership in the country, showing hotels can successfully restructure their operations within a three month time frame under the protection of the court, according to examiner Ian Lawlor, managing partner at JPA Brenson Lawlor accountants.
He said that this is an “extremely valuable alternative” to a receivership process that can often take a number of years to conclude and probably result in job losses and loss of goodwill.
“It’s important to point out the recognition by the investors of the great goodwill and excellent brand reputation that the Morrissey family has built up in the business during the past 16 years.”
Mount Wolseley Resort is the largest employer in Carlow and an important supporter of small local suppliers.