A total of 20 jobs have been saved after a rescue deal was done to keep open two service stations owned by the Blaney family.
Lagg Service Station in Milford.
The Lagg Service Station in Milford and Blaney’s Shop at Kerrykeel recently went into receivership.
However, Sean Carr of Dublin-based Vision Accountancy, has confirmed that after protracted and prolonged discussions with KPMG, the businesses will remain open.
The deal was signed on Tuesday in Dublin.
The welcome news comes just weeks after an additional 30 jobs were saved in the Brewery Bar and the Central Bar in Letterkenny in June, buisnesses also owned by the Blaney family.
It is understood that the deal hit a number of stumbling blocks over the last few weeks but these issues have now been finally resolved.
Mr Carr told the Tirconail Tribune that Milford and Kerrykeel and its rural hinterland without these two vital two shops would be too horrendous to contemplate.
He said the locality and the community would be very much the poorer and with the Fanad and Rosguill peninsulas heavily dependent on tourism, it was vital that these business remained opened.
“No tourists coming to Donegal want to see shutters on doors and if a business closes it is virtually impossible to get the business up and going again.
“Closing the doors is the easiest option for banks but the most costly one in the long term for the banks and destroys staff lives and families never mind the damage it does to the businesses.
“It comes to a massive relief to the staff and their families and if a rescue deal was not agreed it only add further to the withdrawal of essential rural services and rural decline.”
Mr Carr, the Fanad born debt restructurer expert, has been involved in debt restructuring cases throughout Ireland, Europe and USA.
He said he is deeply concerned about the future of businesses in Donegal and has called on the government for urgent action for businesses to be given some form of grant aid to access to specialist restructures.
The no nonsense and tough style negotiator, is hoping to hold a number of one to one free meetings with SMEs in Donegal over the coming weeks.
“It be would be very easy for me to idly stand by and let the destruction to happen but I would be hopefully be able to look back in ten years and say I made some small difference in saving jobs and communities.
“I took a conscious decision not to act for banks and who has saved over 100 in Donegal indirectly and directly in the last 18 months alone, some restructures count the number of cases they have as the barometer of their success but I also count the number of jobs that I have not been able to save,” he added.
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