Pontoon Bridge Hotel in receivership

Pontoon Bridge Hotel goes into receivership


The famed Pontoon Bridge Hotel on the shores of Lough Conn has gone into receivership. The hotel, run by the Geary family since 1964, will continue to trade as a going concern and the receiver appointed by Ulster Bank to the hotel has confirmed to staff, suppliers and future bookings at the hotel that it will be business as usual.
The 50 full-time and part-time staff at the hotel have been told that there are no plans for layoffs.Brendan and Ann Geary and their family have owned the 58-bedroom lakeside hotel for the last 47 years. However, with the business struggling in recent times, the Gearys informed the Ulster Bank that they would have no alternative but to put the company, Hy-many (Pontoon) Limited into receivership.
A spokesperson for the family said that it was with deep regret and much sadness that they took the decision. They outlined deteriorating economic climate, the large oversupply of hotels in the market, the unlevel playing pitch with bank-controlled and Nama hotels, credit availability and a recent unfavourable High Court case against the company as factors in their decision. The Ulster Bank have appointed joint receivers Michael McAteer and Aengus Burns of Grant Thornton. Breeta Geary and Mary Geary are now part of the new management structure at the hotel.