Potential buyer of TLT sought

Grant Thorton is seeking a potential buyer for animal exporter TLT International which went into receivership last week.

TLT International is Ireland’s largest livestock exporter. In a statement issued this evening, the company said “it will be working intensively over the coming days to establish the extent of the company’s liabilities”.

Grant Thornton is proactively contacting all Mullingar-based TLT’s creditors, farming organisations and suppliers of affected marts to gain a full understanding of stakeholders’ positions, the statement reads.

HSBC has appointed Gearoid Costelloe, a partner at Grant Thornton Limerick, as fixed charge and receiver manager over the assets of animal exporter TLT International.

“Mr Costelloe is exploring all options available to TLT International, including seeking potential buyers for all or part of the business,” it said.

AgriLand understands Grant Thornton will provide an update within seven days.