Linen Supply of Ireland, which has a plant in Spiddal and logistics offices in Galway, has confirmed that it has emerged from the examinership process it entered in September last year.
In a statement, LSI said it was very happy to be exiting examinership and was looking forward to the future with confidence. Joerg Lankers, LSI’s chief financial officer, said that the company was particularly delighted that the restructuring of the business had led to the creation of 75 extra jobs at its Cork plant.
The company has plants in Dublin, Cork, and Spiddal, as well as a number of logistics offices in Limerick, Galway, and Sligo. LSI provides a textile rental and cleaning laundry service to companies in the hospitality, healthcare, and food industries as well as supplying sterile surgical supplies, washroom hygiene equipment, and dust control mats.
Mr Lankers paid tribute to the company’s employees, former employees, and customers for all their support during the examinership. It is expected that the company will soon begin distributing the €5.4 million redundancy fund to over 260 workers who were made redundant last year.
During the examinership, LSI sought permission to repudiate or cancel leases held with several landlords. While the High Court refused the company permission, the Supreme Court subsequently ruled that leases are contracts within the meaning of examinership legislation and thus could be repudiated.