"Keating Construction is working to achieve our long-term strategic aim to be a leading marine engineering company in Europe and the UK.

  “The impact of Covid-19, Brexit and the current trading environment has been challenging in recent months. In this context, the company had no other choice but to take steps to ensure our long-term ambitions, protect jobs and achieve the best outcome for current creditors.

  “In court, after hearing the support from a number of our creditors, the judge confirmed our entry into voluntary examinership - a positive step for the future sustainability of the company. This will allow us to seek the investment needed for the restructuring necessary to achieve our goals.

  “Over the coming weeks, our senior management team will be working with the appointed examiner to secure the future of the company and our employees. We intend to emerge from this process as a stronger company ready to avail of the significant opportunities for the type of work we do - delivering complex engineering projects – in the growing marketplace in the UK and across northern Europe."

The impact of Covid-19, Brexit and the concurrent trading environment have been challenging in recent months.

 In this context, the company has no choice but to take steps to ensure our long-term ambitions, protect jobs and achieve the best outcome for current creditors.

On Friday last the company applied to the High Court to enter voluntary examinership. This was granted on an interim basis with the formal hearing scheduled to take place on Monday 12 October. In the interim we will continue to trade during the process and where practicable carry out works on certain projects.

We intend to emerge from this process as a stronger company ready to avail of the significant opportunities for the type of work we do - delivering complex engineering projects – in the growing marketplace in Ireland, the UK and across northern Europe.

 When the decision of the court is made, we will be providing further updates