26 October 2012 No Comments by The Northern Standard

A liquidator has been appointed to Cavan/Monaghan based home heating distribution company Oriel Oil Ltd.
The application for the appointment of a liquidator was sought by Topaz which supplied oil to Oriel and claimed it was owed a “considerable” sum of money by the company.
A spokesman for Topaz said it regretted the move. “Despite our best efforts over a long period of time we were unable to reach an accommodation with Oriel Oil. Unfortunately we were left with no option but to take this course of action”.’
This newspaper also contacted the company’s Carrickmacross plant which declined to comment.
The company’s main depot was located on the Dundalk Road, Carrickmacross, Co. Monaghan and there was a secondary storage facility in Killeshandra, Co. Cavan.
It is understood that the company employed twelve people in Carrickmacross, as drivers, maintenance and office staff.
According to a source, employees received no warning of the closure and arrived to work on Thursday morning last, only to find the gates of the premises locked and flanked by security personnel.
It is believed that employees later received a phone call from Oriel Oil confirming that the company had gone into liquidation. The phone call also indicated that the liquidators would be in contact with them shortly.
Former employees were asked to return all vehicles belonging to the company, as these were now property of the liquidator.
According to Simon Coyle of Mazars was appointed provisional liquidator on Friday last, October 19th. A hearing is scheduled to take place on Monday, November 12th.
The source also confirmed that liquidators were on-site at the Dundalk Road plant on Monday. A meeting took place where it was explained that the company would be wound up as soon as possible, that it might be sold as a going concern, and if so the new owners might give people their jobs back.
Oriel Oil Ltd., which was 35 years in business in Carrickmacross are reputed to have been first class employers to their staff, all of whom had a long and distinguished service.
Karen O’Loughlin from SIPTU, the union representing workers told The Northern Standard that the body …

Comments are closed.