The directors of Carrick-on-Suir Mart in Co Waterford have confirmed that the mart will not be reopening after a fire in the mart this spring.

The mart went on fire on Monday 16 April, with fire brigades from Carrick-on-Suir and Clonmel battling the blaze, which was believed to have been caused by an electrical fault.

Sad day

"It's a very sad day," mart manager John Curran told the Irish Farmers Journal.

"The fire burned the offices, but the real issue was that the yard was 60 years old and the costs to upgrade the yard to the new standards was just too high.

"It's with great reluctance that we had to make the decision to quit.

"It was more like a community than just a cold business and that’s the part that really hurts, but economics is economics.

"It's a real loss to the local community and the town of Carrick."

Although the initial intention had been to rebuild the mart, the directors of the mart have now decided that that isn’t possible.

Insurance costs

“The directors listed the main reasons for this decision as being escalating insurance costs, coupled with the increased cost required for ongoing regulations facing the sector,” a statement from the mart read.

The mart expressed its gratitude for all the support it had received from the local community and from the Department of Agriculture over the years.

It also directed thanks to the Tipperary Fire Service for its help in battling the blaze.

Carrick-on-Suir Mart had been in operation since 1955 and the news of its closure will sadden many in the farming community.

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Carrick-on-Suir Mart suffers ‘severe’ fire damage