Ireland's Cappoquin, one its largest poultry processors, and its parent company Cappoquin Poultry Holdings, have gone into administration, owing €6 million in debts.
Cappoquin Poultry went into administration with €6 million in debts, after the largest creditor, feed supplier Henry Good, petitioned the move. Cappoquin previously was rescued from liquidation in 2008 by Derby Poultry.
Rising input costs and cheaper imports are being put forward as reasons for the company’s situation.
Cappoquin employs 130 people in its factory in Waterford, and is the main employer for the community there.
Source: Farmers weekly