Bottled-water manufacturer Celtic Pure is to be placed into liquidation.
The Monaghan-based company, which employs around 75 people, has been hit by water quality issues.
In August, it emerged that some batches of water had levels of arsenic beyond what was permitted.
This led some Celtic Pure customers to suspend orders - leaving the company insolvent.
An examiner, Declan McDonald of PwC, was appointed to the firm by the High Court to see if a way could be found to keep the business alive.
As part of the examinership, a number of parties expressed an interest in investing in the business.
However the company was again hit by a water quality issue in October, when bacterial contamination was discovered.
A closure order was put on a Celtic Pure factory in Co Monaghan as a result.
Mr McDonald has told the High Court that he no longer believes an investment can be secured to keep the company alive.
He has been appointed liquidator to the company by Mr Justice David Barniville.