Receivers have taken control of Waterford Whisky, the distillery founded by Mark Reynier, after the company failed to secure additional funding. The receivership, a consensual appointment involving Interpath Advisory's Mark Degnan and Daryll McKenna, comes after weeks of efforts by the company and its main lender, HSBC, to implement a turnaround plan.
Receivers have been appointed over Waterford Whisky , the distillery business founded by industry veteran Mark Reynier , after it failed to raise fresh funds.
The Irish Times understands that Interpath had been working with the company and the lenders in order to either raise fresh equity or put in place some other solution, but that this process was not successful. After an emergency board meeting earlier this week, the company invited HSBC to appoint receivers over the company and take control of the business.
He grew the sales of the brand from zero to around €15 million, before it was bought out by drinks giant Remy Cointreau in 2012 for £58 million .
Waterford Whisky Receivership Mark Reynier HSBC Interpath Advisory Distillery Fundraising
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