Saturday 24 September 2016

Liquidator to Clerys will face objection next week

Published 01/07/2015 | 02:30

Clerys was shut down earlier in June
Clerys was shut down earlier in June

Concession holders who are owed nearly €1m from the Clerys closure will object to the appointment of the liquidator in the High Court on Monday.

  • Go To

The group of 15 concession holders, who are out of pocket to the tune of more than €750,000, will object to Kieran Wallace and Eamonn Richardson of KPMG being named as liquidator of OCS Operations Ltd - the company that ran Clerys.

The landmark department store on Dublin's O'Connell Street closed down earlier this month.

Natrium, the company which bought Clerys from Gordon Bros this month, moved swiftly to put OCS Operations Ltd, which ran Clerys, into liquidation.

Mr Wallace and Mr Richardson were quickly appointed as liquidators but as creditors of the business, the concession holders can object to their appointment.

The objection, which may not succeed, will likely mean the concession holders taking on a legal bill estimated at €20,000 if it fails.

Siptu had been expected to object to the liquidator's appointment as well, but the union is no longer expected to do so.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business