Henry Good, a family-run feed mill based in Kinsale, has been placed in receivership today after attempts to restructure the business failed.

It was owed €3.9 million by Cappoquin Poultry for supplying chicken feed before that business was placed in examinership last year.

The business has been owned by the Good family since 1927 but attempts to restructure the business in the summer of 2012 failed after it ran into difficulties with Cappoquin Poultry.

The company employs 50 people and will continue business as the receivers at KPMG will attempt to sell the business and its assets.