Cootehill Co-operative chicken processing company, which closed towards the end of last year faced into receivership with a threat to up to 90 jobs has been bought out by fellow poultry company, Lyntop.
It was late yesterday evening that Simon Coyle of Mazars confirmed the sale of the embattled east Cavan company which has been in operation since 1949, to Lyntop, who are associated with Derby Poultry, .
Last October up to ninety people faced losing their jobs, and some 25 suppliers locally were also affected by the closure, some claiming they were owed up to €15,000 for birds send to the factory. It is hoped now, as a result of the buy-out, that some of the jobs at the company can be saved following the sale.
Back in 2008, Derby Poultry were involved in the buyout of the Cappoquin Poultry Processing Plant, safeguard the future of the Waterford facility.
The 50-year-old Irish poultry processor had gone into liquidation at the time with debts of €7-8m and the jobs of 250 staff in doubt.