AN interim examiner has been appointed by the High Court to the well-known fashion retailer Awear.
The chain, which employs more than 350 people and operates 30 stores in the Republic and the North, blames its current difficulties on high rents and increased competition. The firm hopes that the vast majority of the jobs can be saved.
Yesterday, Mr Justice Peter Charleton appointed insolvency practitioner Ken Fennell as interim examiner to Latzur Ltd, trading as Awear, after an independent accountant's report said the company had a reasonable prospect of survival if certain steps were taken.
These steps include the examiner putting together a scheme of arrangement with the firm's creditors, which if approved by the High Court would allow the company to continue to trade as a going concern.
The matter was adjourned to later this month.