Over 50 jobs lost as Killarney Brewing & Distilling Company ceases operation
Millions of euro have been invested by the company in the Fossa premises and large distillery, which opened in 2022, and which includes a restaurant, a number of bars, and large function rooms, catering to leisure, tour and corporate business.
However, the covid pandemic, as well as the more recent tariff threat, have impacted its business potential severely, delaying the original opening, as well as its expansion into the areas of weddings and other functions. The original KBD brewery premises, in a former mineral water factory in the Muckross Road, is also impacted.
All 55 staff are to lose their positions, it has been confirmed locally, after staff were called to meetings.
The company has strong local roots and was anchored in Killarney emigrants to Chicago and the US. Upwards of €30m has been invested in the luxury premises in Fossa on the Ring of Kerry.
However, plans to merge with a US strategic partner fell through earlier this year, and the company went into examinership in April. At the time, KBD remained hopeful the process would be a viable path to secure the company's future.
'Like many in the drinks manufacturing industry, KBD has endured unprecedented challenges during and following the covid-19 pandemic. These included surging raw material costs, significant supply chain disruptions, delays in opening the Fossa distillery, whiskey inventory supply gluts, and broader geopolitical uncertainties. Collectively, these issues have placed significant pressure on the business and negatively impacted both revenue and profitability,' it said in April.
The continuing threat and uncertainty over tariffs and a downturn in coach and other tourism locally have also impacted the business.
The announcement to staff, during Killarney Race Week, normally the high point of the summer season in Killarney, is a particular blow, one local businessman who did not wish to be named said.
The examiner appointed to the company is making an application to the High Court on Friday morning. A spokesperson for the examiner said it would not be appropriate to comment at this time.
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Killarney Brewing company enters examinership aiming to save 100 jobs
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