Blackwater Distillery, the Waterford whiskey maker, has commenced rescue proceedings in a bid to stave off insolvency. The company, which also makes gin and vodka and was founded ten years ago by former television producer Peter Mulryan, this week entered the Small Companies Administrative Rescue Process, or Scarp. It has appointed Joseph Walsh of JW Accountants in Dublin as process advisor to prepare a rescue plan under the scheme. The move provides the company breathing space to restructure its balance sheet and to potentially source fresh investment. The entry to Scarp for Blackwater Distillery marks a turn of misfortune for…

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