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30/01/2009
Hotel Closure Hits Limerick
Jobs have been lost as the recession hits Limerick's hospitality industry.
The city suffered this latest jobs' blow yesterday one of its largest hotels closed with the loss of 130 jobs.
The Castletroy Park Hotel shut its doors for business after 13 years in business in Limerick.
Staff who reported for duty yesterday morning were devastated to learn that the rescue talks to secure the future of the hotel had failed.
Management at the hotel held a meeting with workers last Monday where they were informed of the hotel's financial difficulties and told that the outcome of rescue talks for the hotel would be revealed within four days.
However, staff were told to go home yesterday after being informed that the hotel had gone into liquidation.
Grant Thornton, based in Limerick, has been nominated by the hotel directors as liquidators. They will now proceed to set up a meeting with creditors. The trade union, Siptu is planning to meet with the liquidators to discuss pay issues for staff.
It is also feared that the closure of the hotel will also have a knock-on effect for many of the shops and restaurants that opened in recent months on the hotel's grounds, which is known as Castletroy Park Commercial Campus.
(BMcC/JM)
The city suffered this latest jobs' blow yesterday one of its largest hotels closed with the loss of 130 jobs.
The Castletroy Park Hotel shut its doors for business after 13 years in business in Limerick.
Staff who reported for duty yesterday morning were devastated to learn that the rescue talks to secure the future of the hotel had failed.
Management at the hotel held a meeting with workers last Monday where they were informed of the hotel's financial difficulties and told that the outcome of rescue talks for the hotel would be revealed within four days.
However, staff were told to go home yesterday after being informed that the hotel had gone into liquidation.
Grant Thornton, based in Limerick, has been nominated by the hotel directors as liquidators. They will now proceed to set up a meeting with creditors. The trade union, Siptu is planning to meet with the liquidators to discuss pay issues for staff.
It is also feared that the closure of the hotel will also have a knock-on effect for many of the shops and restaurants that opened in recent months on the hotel's grounds, which is known as Castletroy Park Commercial Campus.
(BMcC/JM)
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