The High Court has appointed joint provisional liquidators to Ireland's only vinyl records manufacturer; Dublin Vinyl.

The appointments were made in relation to Pressing Matters Limited trading as 'Dublin Vinyl', which the court heard has 22 full time employees and 4 full time contractor workers.

Dublin Vinyl was founded in 2016  has contracts for major record companies including Universal. The company is currently making records for several artists including "Taylor Swift, whose fans we would not want to disappoint."

However the company sustained significant losses in 2022 and 2023, due to litany of factors including the Covid-19 pandemic, Brexit, the ongoing war in Ukraine, the loss of a major contract, and the failure of record pressing machines it had ordered to arrive on time.

As a result the company had decided to petition the court for the appointment of Ken Fennell and Eamonn Richardson of Interpath Advisory, as joint provisional liquidators.

At the High Court on Monday Mr Justice Oisín Quinn made the appointments after barrister for the company said that company was in the process of completing contracts worth €500,000.

The judge said he was satisfied to appoint the joint provisional liquidators, as the company was clearly insolvent.

Dublin Vinyl stated that "an orderly winding up was in the best interests of all parties including the employees and the company's creditors".

Counsel said that Dublin Vinyl, which has rented units in Dublin, had of late come under pressure from its creditors, including its energy supplier, which had threatened to cut off its electricity over unpaid bills.

It was said that the company currently has liabilities over assets of €1.9m.

It is hoped that the liquidators could seek to sell the business as a going concern.