BROADWORKS

Creditors’ meetings will take place this week for Broadworks Communications and its parent firm, BWC Investments, which had deals with property developers to lay fibre-optic cabling in new developments.The entrepreneurs behind the companies – Samir Naji and Pat Alley – both look set to lose out as a result of the collapse, The Sunday Business Post reports.

Naji is the founder and former chief executive of the Horizon technology group, which was sold for €100m, while Alley founded and ran Advanced Environmental Solutions before selling out of that business. Alley and other investors bought Broadworks in 2005 for €1.5m.