New work sourced for majority of employees after Limerick engineering firm ceases trading
THE MAJORITY of approximately 140 employees at a now out-of-business engineering company have found alternative employment, according to the firm’s managing director.
Kilmallock's Glenfield Engineering Limited confirmed to staff last week that the mechanical engineering firm would be ceasing to trade after 20 years, due to “heavy losses”.
The company was founded in 2003 by Seamus Buckley and was regarded as one of Ireland's foremost mechanical engineering providers. Mr Buckley passed away in May 2022.
Managing director, Shane O’Brien confirmed that the majority of their employees have already found alternative employment with companies Glenfield had previously worked for.
“We’d like to thank everyone for their support in this difficult time, especially the people of Kilmallock, who have been so kind to all of us,” Mr O’Brien said.
“I’d like to thank local TD Richard O’Donoghue and his colleagues Triona and Tommy for going above and beyond to try and help us out of our difficulties.”
Shane O'Brien along with director, Darragh O'Brien and financial director, Ann Buckley, wrote a letter to staff members with “heavy hearts” last week, announcing the company’s closure.
The company confirmed that they have incurred “heavy losses” and “been under massive pressure financially”.
The letter went on to say that the company employed an external company two years ago to try and attract investment to get the business back to profitability.
“They failed to find anyone interested. Over the last few months, we've approached major mechanical engineering companies with a view to selling the business.
“It wasn't something we wanted to do but we wanted to protect jobs and keep the company going. We've exhausted all options. The last one being this week”.
The statement confirmed that due to losses and Revenue debt, the business would cease trading as of last Friday.
Addressing staff members, the letter continued: “We want to thank you for your loyalty and hard work over the time you have been with Glenfield. We're so sorry it has come to this, but the situation has been taken out of our hands.”