The five-star Heritage golf and spa resort in Killenard, Co Laois has gone into receivership.
The receiver to the resort which includes a 72 par Championship golf course designed by Seve Ballesteros and Jeff Howes, said attempts would be make to keep the business running as a going concern.
"There will certainly be no fire sale," receiver Jim Luby, of Dublin insolvency firm, McStay Luby, told RTÉ News at One.
"It is one of the best parkland golf courses in Ireland...over the coming months we'll be making every effort to ensure that revenues are maintained and the course etc maintained to the highest standards, he added.
