An iconic social outlet in Co Clare has entered receivership.
The Shannon Knights has been located in the heart of Shannon since 1972 and this week entered receivership. A multi-million revamp of the bar and bistro was undertaken during a very difficult economic period for the country.
Doubts were raised about the future of the business in recent months with losses of €1.75 million accumulated according to accounts filed this summer which also highlighted that a bank loan of €3.4m had to be repaid.
Seventy five people are employed at the Shannon Knights with no immediate changes to their working conditions this week. A representative for the employees said “It is a time of change and transition for us all but for the record we are not closing down and we are open for business as usual. We may have a new management team but it’s still local jobs so please keep up the support”.
Independent Cllr Gerry Flynn described the role the Shannon Knights played in the area to The Clare Herald. “I’ve lived most of my life in Shannon and I would describe the Shannon Knights as an institution in the town of Shannon, it’s always been there from as long as I remember”.
Flynn believes this latest blow to the town comes on the back of “bad management” from the Government during the economic collapse. “I would know Aidan Quish personally and I would know his family, real hard-working people and when you look at what happened with the economic collapse and what the banks did to people and I think this is a knock-on effect of it and people through no fault of their own decided to stick with the business”.
Aidan Quish’s role to the community of Shannon cannot be forgotten according to the Miltown Malbay native. “I was involved with the Shannon and District Lions Club and anytime we needed whether it was holding meetings or we needed funding to help people in need Aidan was always quick to arrange some sort of fundraiser in the Shannon Knights to make sure that we had resources to give out to people in need and he did that for many years so from that point of view, he was more than just a businessman he had a conscience, he had a community conscience”.
Prominent Shannon businesses like The Old Lodge and Oakwood Arms Hotel entered receivership in recent times, this latest blow will have a big impact on the town according to Cllr Flynn. “The banks will probably put somebody in there to oversee proceedings and more than likely it will be sold as a growing concern. There’s been an awful lot of hits in Shannon Town itself and it’s going to have a huge impact on the fabric of the town and the community”.