An examiner has been appointed to the Athlone-based building supplies firm BHT, which employs over 80 people in the town.
The BHT Group - which operates Tubs and Tiles, Heatmerchants and Brooks - has its head office, along with a Heatmerchants branch, on the Moydrum Road in Athlone. There is also a Tubs and Tiles branch on the Dublin Road.
Earlier today (Thursday) the High Court approved the appointment of an examiner to the company.
The examiner - Kieran Wallace of KPMG - now has 100 days to come up with a 'scheme of arrangement' on the company's future, before reporting back to the High Court.
The company will continue to trade as normal throughout the period of examinership.
It's understood the Athlone staff were briefed on the developments at a meeting this morning.
The BHT Group is one of the country's largest suppliers of building, heating, plumbing and home improvement materials.
It employs some 445 people in 58 branches nationwide.