Powerscourt Distillery files for examinership
Irish whiskey maker Powerscourt Distillery has petitioned the court for the appointment of an interim examiner to save the business.
A notice on the Powerscourt website said the County Wicklow-based distillery is currently in examination under Part 10 of the Companies Act 2014. The notice replaced a previous statement on its appointment of a receiver.
Under Irish law, examinership is a process where a company facing financial difficulties can obtain court protection to help the business survive.
According to an ex parte application filed in the High Court on 30 June, the company has petitioned the court for the appointment of Joseph Walsh of JW Accountants as its interim examiner.
The move came just four days after Mark Degnan of Interpath Advisory was appointed as a receiver for Powerscourt, a process that is used to manage or take control of a company’s assets, usually when it defaults on its financial agreements.
Gerard Ginty, a shareholder, director and chief operating officer of Powerscourt Distillery, filed a petition to the court for the appointment of Walsh as an examiner.
In 2023, Powerscourt Distillery secured a €25 million (US$27.4m) loan from PNC Business Credit to drive forward its global growth plans.
The court document details that Powerscourt owes €21.5m to PNC through a master financing agreement.
PNC had commissioned an independent business review in December 2024 to assess the financial position of Powerscourt. The outcome of this review was deemed to be uncertain.
The Powerscourt Distillery and visitor centre opened to the public in 2019, following the build of a €10m (US$11.8m) distillery at the Powerscourt Estate in Enniskerry.
According to the court document, the site has four full-time employees and eight part-time workers. It also noted that the business’ turnover from 1 January 2025 to 31 May 2025 was €294,502.90.
The distillery is also scheduled to host 28 events, including weddings, between July and the end of 2025, with anticipated revenue of €41,000.
The affidavit filed by Ginty notes that the “market value of the company’s assets is in excess of its liabilities to a significant degree”. In addition, it claimed that Powerscourt has “received expressions of interests from investors in recent times”, and stated that the company has a “reasonable prospect of survival”.
Powerscourt Distillery said it was “not in a position to comment at this time”. Walsh has not responded to a request for comment.
The matter is listed for a hearing on 10 July.
Earlier this year, Walsh was appointed as a process advisor for Irish spirits maker Blackwater Distillery as it entered the Small Companies Administrative Rescue Process (Scarp).
Blackwater sold its Irish whiskey Velvet Cap to RoCo Brands in February this year.
In April 2025, Ireland-based Killarney Brewing & Distilling Company hired an interim examiner to safeguard the business after experiencing a whiskey supply glut and surging costs.
Last year, Mark Reynier’s Irish whiskey distillery Waterford appointed Interpath’s Degnan and Daryll McKenna as its receivers to “secure the future of the business”.
In recent news, Diageo-owned Roe & Co became the latest Irish whiskey distillery to halt production to support its “sustainable future growth”.
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