Bank of Scotland has appointed joint receivers to the Mr Binman group of waste collection companies employing more than 330 people across Munster with another 200 jobs indirectly dependent on them.
The bank, the companies’ biggest creditor, is owed €53 million and said the receivers would operate the business as a going concern for the “short to medium term”.
The bank’s move came after the directors of the companies told the High Court yesterday they would not be appealing the court’s earlier refusal to appoint an examiner.