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Powerscourt Distillery has become the latest Irish whiskey producer to appoint a receiver as it faces financial difficulties.
Powerscourt Distillery secured a loan in 2023 to increase production and market expansion
The producer of Fercullen whiskey confirmed on its website that it had appointed Mark Degnan of Interpath Advisory as its receiver on 26 June.
The distillery will remain open to the public and continue to process online retail sales, it noted in the statement.
The appointment of a receiver is typically used to manage or take control of a company’s assets, usually when a company defaults on its financial agreements.
In April last year, Powerscourt confirmed it was “continuously examining options to secure additional growth capital” to boost its production capabilities, enhance brand development and support market expansion. The statement was made in response to a report that it was exploring a sale of the business.
In 2023, Powerscourt Distillery secured a €25 million (US$27.4m) loan from PNC Business Credit to drive forward its global growth plans.
Several distilleries have faced challenges such as oversupply and surging costs in the past year, prompting temporary closures and the appointment of receivers.
In April this year, Ireland-based Killarney Brewing & Distilling Company hired an interim examiner to safeguard the business after experiencing a whiskey supply glut and surging costs.
Last year, Mark Reynier’s Irish whiskey distillery Waterford also appointed Interpath’s Degnan and Daryll McKenna as its receivers to “secure the future of the business”.
The Spirits Business has approached Interpath Advisory for comment. Powerscourt did not provide a statement, and instead requested enquiries to be sent to Interpath.
The Powerscourt Distillery and visitor centre opened to the public in 2019, following the build of a €10m (US$11.8m) distillery at the Powerscourt Estate in Enniskerry.
“You play against club and country, week in week out – then for this seven week period they’re your best friends!” 
Brian O’Driscoll speaks at The Open on what makes the Lions squad so special to be a part of 
“You play against club and country, week in week out – then for this seven week period they’re your best friends!” Brian O’Driscoll speaks at The Open on what makes the Lions squad so special to be a part of
“You play against club and country, week in week out – then for this seven week period they’re your best friends!” Brian O’Driscoll speaks at The Open on what makes the Lions squad so special to be a part of
Powerscourt Distillery has become the latest Irish whiskey producer to appoint a receiver as it faces financial difficulties.
Powerscourt Distillery secured a loan in 2023 to increase production and market expansion
The producer of Fercullen whiskey confirmed on its website that it had appointed Mark Degnan of Interpath Advisory as its receiver on 26 June.
The distillery will remain open to the public and continue to process online retail sales, it noted in the statement.
The appointment of a receiver is typically used to manage or take control of a company’s assets, usually when a company defaults on its financial agreements.
In April last year, Powerscourt confirmed it was “continuously examining options to secure additional growth capital” to boost its production capabilities, enhance brand development and support market expansion. The statement was made in response to a report that it was exploring a sale of the business.
In 2023, Powerscourt Distillery secured a €25 million (US$27.4m) loan from PNC Business Credit to drive forward its global growth plans.
Several distilleries have faced challenges such as oversupply and surging costs in the past year, prompting temporary closures and the appointment of receivers.
In April this year, Ireland-based Killarney Brewing & Distilling Company hired an interim examiner to safeguard the business after experiencing a whiskey supply glut and surging costs.
Last year, Mark Reynier’s Irish whiskey distillery Waterford also appointed Interpath’s Degnan and Daryll McKenna as its receivers to “secure the future of the business”.
The Spirits Business has approached Interpath Advisory for comment. Powerscourt did not provide a statement, and instead requested enquiries to be sent to Interpath.
The Powerscourt Distillery and visitor centre opened to the public in 2019, following the build of a €10m (US$11.8m) distillery at the Powerscourt Estate in Enniskerry.
Powerscourt Distillery has become the latest Irish whiskey producer to appoint a receiver as it faces financial difficulties.
Powerscourt Distillery secured a loan in 2023 to increase production and market expansion
The producer of Fercullen whiskey confirmed on its website that it had appointed Mark Degnan of Interpath Advisory as its receiver on 26 June.
The distillery will remain open to the public and continue to process online retail sales, it noted in the statement.
The appointment of a receiver is typically used to manage or take control of a company’s assets, usually when a company defaults on its financial agreements.
In April last year, Powerscourt confirmed it was “continuously examining options to secure additional growth capital” to boost its production capabilities, enhance brand development and support market expansion. The statement was made in response to a report that it was exploring a sale of the business.
In 2023, Powerscourt Distillery secured a €25 million (US$27.4m) loan from PNC Business Credit to drive forward its global growth plans.
Several distilleries have faced challenges such as oversupply and surging costs in the past year, prompting temporary closures and the appointment of receivers.
In April this year, Ireland-based Killarney Brewing & Distilling Company hired an interim examiner to safeguard the business after experiencing a whiskey supply glut and surging costs.
Last year, Mark Reynier’s Irish whiskey distillery Waterford also appointed Interpath’s Degnan and Daryll McKenna as its receivers to “secure the future of the business”.
The Spirits Business has approached Interpath Advisory for comment. Powerscourt did not provide a statement, and instead requested enquiries to be sent to Interpath.
The Powerscourt Distillery and visitor centre opened to the public in 2019, following the build of a €10m (US$11.8m) distillery at the Powerscourt Estate in Enniskerry.
Alcohol consumption by Irish adults fell by 4.5% last year, continuing a downward trend recorded over the last 25 years, a new report shows.
The report, commissioned by the Drinks Industry Group of Ireland (DIGI), shows that average alcohol consumption per adult fell by 4.5% last year to 9.49 litres of pure alcohol. This is a drop of more than one third (34.3%) since 2001.
DIGI said the figures demonstrated that Irish people are increasingly drinking alcohol in moderation.
Beer remains Ireland’s most popular drink with more than 43% of the market, with wine in second place at 28%. Meanwhile, consumption of spirits fell to 22% while cider consumption fell to 6%.
The report follows other recent data which showed that alcohol consumption in Ireland is now at average European levels. OECD data for 2022 revealed that consumption in Ireland ranks behind France, Spain and Austria, amongst others.
A separate report by the Health Research Board last year also indicated that Ireland’s alcohol consumption was at average levels by EU or OECD standards.
Secretary of DIGI and CEO of The Licensed Vintners Association, Donall O’Keefe, said: “Today’s figures offer clear proof of what many of us already know – Irish people are increasingly drinking in a restrained manner, with consumption continuing the downward trajectory that has been recorded since the millennium.
“In contrast to the negative stereotypes that once existed, alcohol consumption in Ireland is now at average European levels, with the purchase of non-alcoholic drinks continuing to increase.
“This downward trend also raises the obvious question as to why Ireland continues to have the second highest excise rates on alcohol in Europe. Given that we now consume alcohol at average European levels it makes sense that we should pay excise at average European levels also,” said Mr O’Keefe.
He said “hundreds of small rural pubs and restaurants are struggling for survival due to repeated increases in the cost of doing business”.
He said that a cut in excise would “offer these businesses an opportunity to continue acting as vital hubs in their communities, as well as a crucial part of our tourism product”.
“DIGI will be seeking a 10% cut in excise in this year’s Budget as an urgent measure to give [rural] businesses a fighting chance of survival,” said Mr O’Keefe.
The DIGI report was compiled by Anthony Foley, Associate Professor Emeritus at Dublin City University, using data from the CSO population and migration estimates for April 2024 and the Revenue Commissioners’ alcohol clearances data.
Alcohol consumption by Irish adults fell by 4.5% last year, continuing a downward trend recorded over the last 25 years, a new report shows.
The report, commissioned by the Drinks Industry Group of Ireland (DIGI), shows that average alcohol consumption per adult fell by 4.5% last year to 9.49 litres of pure alcohol. This is a drop of more than one third (34.3%) since 2001.
DIGI said the figures demonstrated that Irish people are increasingly drinking alcohol in moderation.
Beer remains Ireland’s most popular drink with more than 43% of the market, with wine in second place at 28%. Meanwhile, consumption of spirits fell to 22% while cider consumption fell to 6%.
The report follows other recent data which showed that alcohol consumption in Ireland is now at average European levels. OECD data for 2022 revealed that consumption in Ireland ranks behind France, Spain and Austria, amongst others.
A separate report by the Health Research Board last year also indicated that Ireland’s alcohol consumption was at average levels by EU or OECD standards.
Secretary of DIGI and CEO of The Licensed Vintners Association, Donall O’Keefe, said: “Today’s figures offer clear proof of what many of us already know – Irish people are increasingly drinking in a restrained manner, with consumption continuing the downward trajectory that has been recorded since the millennium.
“In contrast to the negative stereotypes that once existed, alcohol consumption in Ireland is now at average European levels, with the purchase of non-alcoholic drinks continuing to increase.
“This downward trend also raises the obvious question as to why Ireland continues to have the second highest excise rates on alcohol in Europe. Given that we now consume alcohol at average European levels it makes sense that we should pay excise at average European levels also,” said Mr O’Keefe.
He said “hundreds of small rural pubs and restaurants are struggling for survival due to repeated increases in the cost of doing business”.
He said that a cut in excise would “offer these businesses an opportunity to continue acting as vital hubs in their communities, as well as a crucial part of our tourism product”.
“DIGI will be seeking a 10% cut in excise in this year’s Budget as an urgent measure to give [rural] businesses a fighting chance of survival,” said Mr O’Keefe.
The DIGI report was compiled by Anthony Foley, Associate Professor Emeritus at Dublin City University, using data from the CSO population and migration estimates for April 2024 and the Revenue Commissioners’ alcohol clearances data.
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I was not queuing for the bar again. TB to Westlife’s long awaited return #rockshore #westlife #crokepark #flyingwithoutwings
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