Construction News

20/11/2012

Examiner Appointed Following Ritz Hotel Debt

An interim examiner has been appointed to The Ritz Hotel in County Wicklow, after it emerged in the High Court it owes NAMA €47 million.

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Situated in the Powerscourt estate, it was built by developers Richard Barrett and Johnny Ronan for €200m.

It is believed to have been making a loss since it was built in 2007.

It employs 293 workers, 155 of which are full-time staff.

(CD)

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