First, it was receivership.  Then it became examinership. Now, it is back to receivership.  Two shareholders of Powerscourt Distillery, the Co Wicklow-based distillery, have withdrawn their application to appoint an examiner to the business. Michael Pierce and Gerard Ginty, who hold a combined 22.5 per cent stake in the business,  petitioned the High Court earlier this month to appoint an interim examiner yesterday. The move came days after PNC Bank, a British lender that specialises in the drinks sector, installed Interpath accountant Mark Degnan as receiver over the company in an effort to shore up some €20 million that it…

Want to continue reading?

Unlock this article – and everything else on The Currency – with an annual membership and receive a free TUMI Alpha Bravo backpack delivered to your door.

Subscribe

Cancel at any time.

Are you already a member? .