THERE seems to be overwhelming support, locally, for the team proposing a buy-out of the former Quinn group, now Aventas.
One man, an ex-employee, suggested that the bid, if successful, would be, ‘nearly as good as Sean Quinn buying it back’.
In an exclusive interview in last week’s Herald, the team, Quinn Business Retention Company said they were confident that their takeover bid – thought to be €500m – would be accepted.
For their part, Aventas told the Herald they are awaiting a response from them to a letter in which the buy-out consortium could prove it has the money.
The parish priest of Knockninny parish – it takes in Derrylin and Teemore – Fr Fintan McKiernan said the feeling in the parish about the bid was unanimous: “They would be glad to see it happen. For a start, there would be no need for the security that’s there at the moment. The place would be perfectly safe if it changed hands.
“The way it is now, there’s a lot of money being squandered on security.”
Asked if there was much talk about the buy-out bid, Fr Fintan said it was more a case of, ‘wait and see’.
“But, the sooner it happens the better because the place is getting run down. It will soon be a heap of rust if it’s allowed to run on.
“Everybody is happy with the new team. The vandalism will stop instantly. I have no doubt about that.”
Martin McBrien, the principal of the local St Aidan’s High School, said a successful takeover would represent a much-needed confidence and morale boost.
“Hopefully, it will stem the current tide of emigration by our young people. At the minute, it is impacting on the social fabric of the community, for example on our own GAA club, so if the bid went ahead , it would create more employment locally.”
Mr McBrien recalled a time when school leavers from St Aidan’s went directly into employment with the Quinn Group or, later, after graduating.
“That has certainly reduced over the last couple of years, but I could see that reinvigorated if the takeover goes ahead.”
A former employee of the Quinn Group said the bid was overdue.
“Something had to happen because this outfit that’s in there will only wreck it.
“For instance, they attempted to sell it off in pieces to outsiders who will buy a piece and take it away. That’s no good for the workers in this area.”
Another ex-employee was equally supportive.
“It’s brilliant to see a local group taking an interest, taking over and saving the jobs and getting it viable again.
“At the moment, there’s a lot of confusion and nobody knows where to stand.
“Aventas seem to be selling it and nobody knows who is buying it or if they’re buying it to close it or to keep the jobs going.
“I would say my attitude is common to the people of the area: they are a local consortium that people would feel safer with.”
To read more.. Subscribe to current edition
Receive quality journalism wherever you are, on any device. Keep up to date from the comfort of your own home with a digital subscription.
Any time | Any place | Anywhere