Jobs blow for Ballina

Jobs blow as Ballina hotel closes doors


Anna-Marie Flynn

BALLINA’s Ridgepool Hotel will close its doors on Sunday next resulting in yet another job loss blow for the town.
In the latest in a series of dramatic twists and turns for the staff of the hotel, The Mayo News has learned that the lease taken by a local business consortium in June of this year has been effectively cancelled after the parent company, DG Hotels, went into receivership.
Yesterday (Monday) General Manager Ron Marks said he was ‘bitterly disappointed’ but could see no other option but to shut up shop at the weekend, blaming the uncertain lease terms.
“We had a heart-wrenching meeting but decided that we could not go on throwing good money after bad if we felt the lease was uncertain. We needed the reassurance of the Dunne Group that we could secure a long-term lease on the premises, and without that security, all our plans would be in vain,” he said.
An obviously-distraught Mr Marks said the local business consortium, which took over in June of this year, had already ‘spent a fortune’ on the premises when they initially revamped the downstairs foyer, bar and kitchen.
Plans had already been drawn up for a €100,000 function suite and bedroom revamp. “We had major plans. We knew this would take a lot of work, money and energy but we were prepared to make that investment. Phase one alone would have cost well over €100,000 and we had other projects in the pipeline for after that. However, no one could be expected to make such a substantial investment if they did not know how long they would be in control,” he said.
Last week in the High Court, Bank of Scotland (Ireland) seized control of Ballina’s only town-centre hotel in an effort to secure its debts.
The financial institution appointed a receiver to the Ridgepool Hotel, which overlooks the river Moy. The court was told the DG Group businesses, which had been in examinership since June, had no prospect of survival.
A receiver’s job is to administer and receive a company’s assets. The receiver has a duty to collect the bank’s debts only and will not be generally concerned with the other unsecured creditors or shareholders’ exposure.
Mr Marks said the staff were left ‘devastated’ by the news. “We have had lots of support from everyone and our staff have been fantastic. They have stood by the hotel through thick and thin so it is extremely unfortunate for them,” he said.
He expressed good wishes to the Dunne Group’s receiver or any potential buyer in the future and said he hoped if the Ridgepool continues to be run as a hotel that it will build on the work achieved to date.