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No White Knight for Cappoquin

by 5m Editor
8 September 2008, at 9:24a.m.

IRELAND - Ned Morrissey, Chairman of the Irish Farmers' Association (IFA) has said the outlook for Cappoquin Chickens is not looking good.

Mr. Morrissey said, “The growers’ co-op has been trying to raise funds to invest in the company. However, despite considerable efforts by the co-op board, the necessary funds have not been forthcoming from any party that was approached.”

The growers and breeders came together on 4 September to be addressed by the Cappoquin management. The O’Connor family is attempting to buy back into their own company with the added funds of an investor, namely Derby Poultry. Growers were eagerly anticipating news that these discussions were progressing favourably. However negotiations between the two parties went on long into the night and the representatives from Cappoquin Chickens were unable to attend.

Mr Morrissey said, "The assembled group was very disappointed as they expected to be presented with a rescue package. This is a very difficult time for any producer. If the company is to continue, producers must put birds into their houses. Producers have not even seen a business plan for the company, uncertainty exists over the time scale of payment and the fear is that they may not be paid at all.

“Cappoquin and the west Waterford area rely heavily on the chicken plant for employment and this will be a severe blow to the region. The growers must now wait for news from the liquidator on a white knight for the company to see if they will be growing chickens in Cappoquin into the future,” he said.

Further Reading

- Go to our previous news item on this story by clicking here.

5m Editor