The Drogheda-based firm produced garlic bread, dips, soups and desserts for a number of large grocery retailers, including the Musgrave group.

Galbert's 45 employees are owed 250,000 in unpaid wages and salaries, according to a statement of affairs presented to a creditors' meeting last week, at which accountant George Maloney of Baker Tilly O'Hare was appointed liquidator. The estimated realisable value of those assets is only 214,000.

The 14-year-old company cited rising costs and price pressures as the main reasons for its recent financial difficulties.

Accounts filed by the company in 2003, the most recent figures available, show the company made a loss of 160,000 on turnover of 2.3m.