On June 26, Interpath Advisory was appointed as receiver of the County Wicklow-based distillery. Four days later, the company petitioned Ireland’s High Court for the appointment of an interim examiner, naming Joseph Walsh of JW Accountants.
The move aims to allow Powerscourt to restructure under the protection of examinership laws in Ireland, which are designed to help viable companies navigate financial distress.
The distillery confirmed the development on its website, stating: “Powerscourt Distillery is currently in examination under Part 10 of the Companies Act 2014.”
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READ THE STORYThe court documents revealed that Powerscourt owes €21.5 million to PNC Bank, which provided the business with a €25 million loan in 2023 to fund its global growth strategy. Turnover between January and May 2025 was reported at just under €295,000 by The Spirits Business.
Despite its financial difficulties, Powerscourt is continuing to operate its visitor center and host planned events, including weddings. An affidavit filed by director and COO Gerard Ginty stated that the “market value of the company’s assets is in excess of its liabilities to a significant degree,” and claimed there is “a reasonable prospect of survival,” supported by recent investor interest.
The hearing is scheduled for July 10.
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This development follows a broader downturn in the Irish whiskey sector, marked by the high-profile receivership of Waterford Distillery in November 2024, a signal of the industry’s current challenges.
