An application will be made to the courts regarding a company's future, with potential for receivership. Production of beer and whiskey is to end soon. Doubts about company viability have surged due to running costs and global uncertainties. The company employs over 50 people in Co Kerry, supplying local pubs and hotels. An interim examiner was appointed after a merger failed, but efforts to secure the company’s future have been unsuccessful. Expansion attempts coincided with the pandemic, complicating operations further. Previous funding efforts also fell short, and losses were recorded in recent years.
In recent months, huge doubts about the viability of the company have arisen due to increased running costs, global trading uncertainty, and pandemic-related consequences.
KBD started trading in 2015 and expanded in 2022 with a new brewery and visitors' center in Fossa, funded by €12m from investors.
The company's plans to raise €7m last year fell short, obtaining only €3.5m, primarily from US-based investors, as operational challenges mounted.
KBD previously entered examinership for creditor protection and a 100-day period to formulate a rescue plan, which ultimately has been unsuccessful.
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