One of Ireland’s largest waste management companies Greenstar has been placed into administration.
Owned by American business NTR Group, the company owed €84 million to a consortium of seven banks and these have called for immediate payment of this debt.
Greenstar provides waste collection in Dublin, Wicklow, Sligo, Limerick, Cork, Kilkenny and Wexford to households as well as 15,000 commercial customers.
David Carson of Deloitte has been appointed by the High Court in Ireland as receiver to Greenstar Ireland.
In a statement, NTR Group said: “Greenstar Ireland, its board, management and shareholders have made every effort to reach an agreement with the banks to secure the future of the business and its employees.
“At this time, the banks have made their own decision about how they want to move forward and the future of the company is now in the hands of the receiver.”