Irish whiskey maker Powerscourt Distillery has called in the receivers.
In a brief statement posted on the Powerscourt Distillery website, the company said it had appointed Interpath Advisory on Thursday (26 June).
“The distillery remains open for business to the public and all online retail sales will be honoured and dispatched in the normal course,” the statement read.
The business directed “enquiries regarding the company or regarding outstanding claims” to Interpath.
Just Drinks has approached Interpath MD Mark Degnan for comment.
Powerscourt Distillery, based in Enniskerry, a town south of Dublin, was set up in 2016. It sells single malt and blended Irish whiskey under the Fercullen brand.
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By GlobalDataAccording to The Sunday Times, the decision to appoint Interpath was made by UK lender PNC Bank, which had been working with the distiller on a restructuring process.
The publication said Interpath would seek new investment in the business, which breached loan covenants earlier this year, it said.
In an interview with Just Drinks two years ago this week, Powerscourt Distillery said it was looking to double its production capacity as the company sets its sights on expansion in the US.
The distiller, which was producing 350,000 litres of pure alcohol a year, said at the time it had obtained a €25m (then $27m) asset-based loan from secured against its stock.
In November last year, Interpath was also appointed to handle the receivership of Irish whiskey business Waterford Distillery.
Earlier this month, UK-based alternative milks brand Mighty Drinks appointed Interpath administrators for the business after facing recent “headwinds”.
Mighty Drinks produces a range of pea protein and oat milk products which are sold across the country in major retailers such as Sainsbury’s, Asda and Tesco.
