Angry Irish growers staged an all-day picket at two Ulster Bank branches last week.
They were protesting against the bank’s decision to put a wholesaler into receivership, leaving them with losses of €300,000 for unpaid supplies.
Groomes, based in north county Dublin, was said to owe over €2 million when the bank foreclosed, appointing accountant Michael McAteer as receiver. He then allegedly arranged a sale of the company to Total Produce in a multi-million euro deal, though the exact price was not disclosed.
The deal allowed the 45 staff employed by Groomes to be retained, with the sale proceeds being shared out among the company’s secured creditors, Ulster Bank, other bank groups and the Revenue Commissioners.
But some 20 growers from counties Dublin, Meath and Cavan, who had been supplying Groomes without any warning of the impending crash, have so far received nothing. Each is owed an average of €50,000.
The protest picket, at Ulster Bank branches in Dublin and Cavan, was organised by the Irish Farmers’ Association, which warned of further action if the bank did not “deal fairly with the growers”. Its deputy president, Eddie Downey said: “There is huge anger in the farming community over Ulster Bank’s move to protect its own interests while riding roughshod over the livelihoods of growers.”
During the protest some of the picketers managed to get into the banks and police had to be called when they refused to leave.
Ulster Bank declined to comment on the dispute.
