Instrotec, a specialist electrical and instrumentation contractor that employs 480 people, faced an “exceptionally challenging” period in the first quarter of this year as three large projects all became loss-making. An independent expert report (IER) by accountant Cormac Mohan of Fitzwilliam Corporate was sent to creditors of the business in recent days, giving further insight into why the Westport headquartered business sought interim examinership last week. The report concludes that Instrotec has a reasonable prospect of survival if its interim examiner, Joe Walsh of JW Accountants, can restructure its balance sheet and secure new investment. The IER states that Instrotec…

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