Ireland’s largest provider of hot tubs and spas has gone out of business, with debts amounting to €1 million.

Despite a boom in the sales of spas, hot tubs and gazebos, Arctic Spas has been forced to declare itself insolvent.

The company was incorporated in Ireland as Glowmount and had a distribution agreement with Arctic Spas in Britain, where its products were sourced.

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Accountant Declan McDonald was appointed by the High Court as liquidator following a petition by the company directors.

The company was based in Dunshaughlin, County Meath and its directors are Mark and Harry Wildgust. It also previously had customers in Mullingar and Limerick. However, they closed after incurring substantial losses.

(JM)