The future of Rudds bacon company in Co Offaly, which employs 25 people and has won several awards for its products, will be determined by the High Court on Monday.
Mr Justice Kelly yesterday directed that an application by the directors of the company, Ms Prue Rudd and Mr David Rudd, for the appointment of an examiner to the company, incorporated as Prue and David Rudd and Family Ltd, with a trading address at Syngefield Industrial Estate, Birr, and registered offices at Fade Street, Dublin, should be heard by the court on Monday.
Also before the court on Monday is a petition to wind up the company, which has been brought by Purcell Refrigeration Ltd, one of its creditors.
The company numbers Dunnes Stores, Tesco, Musgrave and leading restaurants among its customers.
In court yesterday, counsel for Prue and David Rudd, of Busherstown, Moneygall, Birr, applied for the appointment of an interim examiner to the company. However, Mr Justice Kelly said there was nothing in the papers that required the appointment prior to Monday. He said the application for a full examinership could be heard then and, given that the winding-up petition had been advertised earlier this week, he would take the unusual step of not requiring that the examinership petition be advertised.
The judge noted that, if the company was wound up, there would be a shortfall of some €2 million, leaving "virtually nothing" for creditors. The court was also told the company's liabilities exceed its assets by some €600,000.
However, although the company was unable to pay its debts as these fell due, the Rudds believed its core business was sound and it had a viable future. The company's products had won numerous awards, including the Great Taste Awards in 2001 and 2002, and was an approved supplier to stores operated by Superquinn, Tesco, Dunnes Stores and Musgraves.
Earlier this month, Superquinn had appointed Rudds as its approved supplier for loose bacon products, which appointment was believed to have been worth some €6.5 million in 2001 to a previous supplier.
