{"id":253804,"date":"2026-01-20T06:47:14","date_gmt":"2026-01-20T06:47:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/253804\/"},"modified":"2026-01-20T06:47:14","modified_gmt":"2026-01-20T06:47:14","slug":"major-louth-employer-enters-interim-examinership","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/253804\/","title":{"rendered":"Major Louth employer enters interim examinership"},"content":{"rendered":"<p><a href=\"https:\/\/www.dundalkdemocrat.ie\/section\/113\/news\" target=\"_blank\" rel=\"noopener nofollow\">Louth<\/a> business East Coast Bakehouse has entered interim examinership following an application to the High Court.<\/p>\n<p>The company employs 78 people at its manufacturing facility in Drogheda. Operations are continuing as normal during the examinership process.<\/p>\n<p>The business has faced financial cash pressure arising from high ingredient cost inflation, general increases in cost of doing business and phased repayment arrangements of tax liabilities.<\/p>\n<p>As part of the application, the company has nominated Kieran Wallace of Interpath to act as examiner.<\/p>\n<p>In a statement on Wednesday, the company has said that: \u201cThe application is intended to provide the company with a period of court protection while it restructures its balance sheet in order to secure new equity investment, with the aim of supporting the long-term future of the business and protecting employment.<\/p>\n<p>\u201cAn independent expert report prepared by Luke Charlton, Restructuring Partner at EY and presented to the Court, has concluded that the company has a reasonable prospect of continuing as a going concern, subject to a successful restructuring.\u201d<\/p>\n<p>Commenting, Michael Carey, Chairman, East Coast Bakehouse, said:\u00a0<\/p>\n<p>\u201cThis has been a difficult decision, but we believe examinership offers the most constructive route to securing the future of the business. We have built a strong manufacturing business with a committed workforce, a diversified customer base and clear opportunities for growth.\u00a0<\/p>\n<p>Read Next:\u00a0<a href=\"https:\/\/www.dundalkdemocrat.ie\/news\/local-news\/1990334\/new-36-bed-specialist-palliative-care-unit-to-be-built-in-louth.html\" target=\"_blank\" rel=\"noopener nofollow\">New 36 bed Specialist Palliative Care Unit to be built in Louth<\/a><\/p>\n<p>\u201cThis process will allow us to address legacy financial pressures, strengthen the balance sheet and create a solid platform to conclude negotiations on further equity investment. During this period, the business continues to trade and products remain available to customers as normal.\u00a0<\/p>\n<p>\u201cWhile there is work to be done, we are confident that this process can conclude successfully and result in a strengthened business with positive long-term prospects. We are grateful for the continued support of our employees, customers, supplier and shareholders as we work through this process and seek to emerge with a stronger and more sustainable business.\u201d<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n<p>ADVERTISEMENT &#8211; CONTINUE READING BELOW<\/p>\n","protected":false},"excerpt":{"rendered":"Louth business East Coast Bakehouse has entered interim examinership following an application to the High Court. The company&hellip;\n","protected":false},"author":2,"featured_media":253805,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,12210,73,61,60,9689],"class_list":["post-253804","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-drogheda","tag-high-court","tag-ie","tag-ireland","tag-louth"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/253804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=253804"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/253804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/253805"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=253804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=253804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=253804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}