Muireann Duffy

A board game manufacturing plant in Co Waterford is set to close following an announcement by the Cartamundi Group.

Cartamundi Ireland's Belgian parent company confirmed the news on Wednesday.

The Waterford plant, which has been in operation since 2015, currently employs 234 people.

The company added the decision to close the factory is due to "structural overcapacity and reduced demand for board games globally post Covid".

"Sales during Covid and through 2021 were strong and peaked mid-2022. The situation has been aggravated by the increase in raw material and energy costs, which has impacted manufacturers globally."

The company confirmed the plant will be closed in phases, ending in August.

"It is particularly regrettable that we plan to close our Waterford facility," Cartamundi's solutions division's president David Germis said.

"It has been a source of reliable quality production and we wish to thank the management and employees for their dedication and continued application in ensuring the continuous supply of products to our customers, particularly in the recent difficult times."

Mr Germis added the Waterford facility has been "suffering losses for many months now and this is not sustainable".