Search Results for 'Examinership'

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.

The High Court heard yesterday (Wednesday) how Anglo Irish Bank has irretrievably lost confidence in the Galway businessman John Sweeney, who is currently fighting to save his many businesses.

There was devastating news for employees of Athlone’s Sasha store this week as it was announced that it is to cease trading in Golden Island Shopping Centre.

Q. My wife and I are owners and directors of a trading company. The company has been badly hit by current economic conditions and we do not envisage our trade recovering. The company’s balance sheet position has deteriorated rapidly and assets only slightly exceed liabilities. Our main asset is the premises from which the company trades but which is owned by us personally. This is subject to a large mortgage which we are struggling to pay and we are currently in default. If we continue trading it is unlikely that we will be able to meet our liabilities. I was told that our creditors or the bank could liquidate the company. Is this true? If so what are our options and what does the liquidator do?

Q.I own a small manufacturing company which is in trading difficulties. My creditors are mounting as my cashflow comes under pressure. The company premises which cost €750,000 were financed through a bank loan and meeting the payments on this has proved increasingly difficult. I have been reading in the papers about examinership and it appears that the examinership process might be a way of protecting the company against my creditors and preserving the trade and the related jobs. Is this possible?

The Lynch Hotel Group, one of Ireland’s largest hotel operators which includes in its hotel portfolio Breaffy House Resort, emerged from its examinership process this week.