Meat producer Olhausen is to close its three plants with the loss of 160 jobs, workers at the company were told today.

BDO’s Jim Hamilton and David O’Connor were appointed receivers and managers of the firm following a request from the company’s board to Ulster Bank.

The company has three plants in Blanchardstown, Coolock and Monaghan, but had suffered financial difficulties in recent times. A buyer had been sought for the business, but the board was unsuccessful.

Siptu representatives said workers had been told this morning the plants would close, with the loss of all 160 jobs, as the company was not considered a going concern.

The company let some 230 workers go in 2008.

Headquartered in Blanchardstown, the company was established as a retail butcher shop in 1896 in Talbot Street. Dublin, and had since evolved into a supplier of pork-based meats. It is best known for sausages, puddings, bacon and pork products which are sold under the brand names Olhausen, Byrnes and Kearns.

In a statement today, the joint receivers said the company had been forced to cease trading.

"Unfortunately we have today had to inform the employees that all positions within the company are now redundant," they said. “Our primary focus is now on completing all the necessary paperwork in order that employee entitlements may be processed as quickly as possible.” They said they will try to find a purchaser for the remaining business and assets.

Siptu organiser Colm Casserly said discussions with the receivers were ongoing over outstanding wages and redundancy terms. The union represents 100 of the workers.

Mr Casserly said the staff affected will be paid outstanding wages for work over the past two weeks. They can expect to receive their money next week. Staff are also entitled to statutory redundancy pay, which could take between four and six months to process.

Minister for Jobs Richard Bruton said he hopes what is left of the business and its assets attract interest from investors. He said Olhausen had been confined to the domestic market, which had suffered severe difficulties. “Clearly the challenge for us throughout the food sector is to internationalise and grow from an Irish base, so there’s a wider transformation that needs to occur,” he added. “I believe that this company and what it has built will attract interest from investors and hopefully that’s what will come out of this receivership.”