Local businessman is CEO of troubled Pierse Group

Businessman Norbert O’Reilly, who has substantial business interests in Oldcastle, is chief executive officer of the Clonee-based Pierse Group, which was given High Court protection last week. Mr Justice Brian McGovern appointed chartered accountant John McStay as interim examiner to Pierse Contracting and to Pierse Building Services, which is involved in the fitting out and refurbishing of premises for blue-chip clients, in the High Court last week. The firms, which employed 700 at their peak and now have 211 employees between them, cited cashflow difficulties caused by bad debts of approximately €30m on completed works as the reason why they had sought the protection of the court. Pierse has been involved in a number of major construction projects, including Dublin civic offices, the British Embassy, the Conrad and Carton House Hotels, Jervis Shopping Centre and several buildings in the Dublin Docklands. Last week’s court hearding heard that the companies have a reasonable prospect of survival as a going concerns if certain steps are taken. These include getting acceptance from the High Court of an appropriate survival scheme by creditors and members of the companies. Mr O’Reilly took over as CEO of the group in 2005. From Mountnugent, Mr O’Reilly has extensive business interests in Oldcastle and is a member of the Oldcastle Civic Trust.