'A tremendously sad outcome': Administrators appointed to Glens of Antrim Potatoes Ltd
Glens of Antrim Potatoes Ltd has entered administration, with the company ceasing to trade and all but a small number of its 95 employees made redundant.
It comes after Stuart Irwin, Ian Leonard and Robin Coughlin of Interpath were appointed joint administrators to the company on September 21.
Established in 1972 in the Glens of Antrim, the company grew and packed potatoes for leading supermarkets and grocery chains across Ireland.
It also produces hand-cooked potato crisps sold under the Glens of Antrim Crisps brand.
The business operates from sites in Cushendall and Ballymena and employs 95 people, with most of them now losing their jobs.
Interpath said the agri-food sector had faced significant challenges in recent years, with rising input costs placing pressure on businesses across the supply chain. For Glens of Antrim, those pressures had a “significant and detrimental impact” on cashflow.
The company's directors explored a number of options, including refinancing and investment, but Interpath said no solvent options were available.
The directors subsequently requested the appointment of joint administrators. Following their appointment, the company ceased trading.
All employees, apart from a small skeleton staff retained to assist the administrators, have been made redundant.
The joint administrators and their specialist employment team say they will provide support to those affected.
Stuart Irwin, managing director at Interpath and joint administrator, said the development was a “tremendously sad outcome” for the business, its employees, Northern Ireland's agri-food sector and the wider communities in Ballymena and Cushendall.
The administrators are now seeking interest in the business and its assets.