Examiner is appointed as hotel development runs out of money

An examiner has been appointed to a €20 million hotel development in Co Offaly, after the development company behind the project ran of out of cash.

Ian Kehoe - avatar

Ian Kehoe

5th July, 2008

An examiner has been appointed to a €20 million hotel development in Co Offaly, after the development company behind the project ran of out of cash.

Plaza Developments was behind plans for a new110-bedroom four-star hotel in Edenderry. The development is under construction, but building work has stalled in recent weeks.

National Irish Bank has advanced €4million to Plaza Developments to fund the hotel project, and the shareholders of the company have also invested...

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