herald

Tuesday 12 December 2017

Construction: Court protection given to The Pierse Group

CONSTRUCTION firm The Pierse Group has received court protection from its creditors following a collapse in turnover and reduced cash flow.

The High Court appointed an interim examiner to Pierse Contracting and Pierse Building Services. The group said that the cash-flow projections were extremely positive and the company had been in discussions with a joint venture partner.

However, representatives revealed that it was owed more than €30m for work that it had completed.

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