Posted online: Mar 18th, 2010

A Letterkenny businessman has vowed to “fight to the very end” to keep his company going and to protect as many jobs as he can.
And Hugh McGee, the Managing Director of the McGee Group, has also issued a hands-off warning to anyone hoping to capitalise on his current difficulties.
Last Friday Anglo Irish Bank put a receiver into the Clanmaca company which is part of the group.
Clanmaca comprises the Sister Sara’s Superpub, the Dry Arch Bar, and two petrol stations and some development land.
Staff in Clanmaca are being issued with their P45 redundancies notices, but it is hoped that they will all be brought back. The businesses will continue to operate under the receiver.
On Monday, Mr. McGee, addressed his staff at a special press conference in the Clanree Hotel.
Commenting on the fact that Anglo Irish Bank had put in a receiver to the Clanmaca Company, he warned that the move could be just the “tip of the ice-berg”.
At its peak the McGee Group – which has six companies – employed 400 people. It now employs 260 people.
“If left to run the business we would be up to that peak again in the summer,” he said. “We do not want to be losing jobs; we want to be maintaining jobs.”
He pointed out that there was a re-structuring of the companies last year, they had got equity and had made an offer to Anglo Irish Bank, but it was turned down.
He acknowledged that he was “not sure what is going to happen.”
And he added: “There will be certain people who will be hoping to cash in on what they see as my misfortune and downfall.”