RECEIVER APPOINTED TO GREENSTAR, OPERATOR OF KILCONNELL DUMP

Date Published: 23-Aug-2012

A receiver has been appointed to Greenstar, which operates Kilconnell dump near Ballinasloe with a staff of approximately 15

The company has a workforce of 800 across the country in collecting waste from 80 thousand households and 12 thousand businesses

It is part of the NTR group which last month (july) published a report stating its subsidiary Greenstar will close its nationwide landfills over the next three years unless prices improve

However in a statement today the board of Greenstar said it wanted to express its disappointment at what it called the 'unexpected' move of the appointment of a receiver

The company said it was regrettable that its lenders have chosen to take this action - as the company has not missed any scheduled repayments and is in a strong cash position to continue trading for the foreseeable future

Business Analyst Ian Guider says Greenstar feels there was no need for the banks to take this drastic measure