Tuesday 20 August 2019

Rescue deal for opticians chain approved in High Court

'Judge Jacqueline Linnane granted examiner Myles Kirby an order accepting a scheme of arrangement that will see the companies exit insolvency.' (stock photo)
'Judge Jacqueline Linnane granted examiner Myles Kirby an order accepting a scheme of arrangement that will see the companies exit insolvency.' (stock photo)

Ray Managh and Donal O'Donovan

Preferred creditors of Dublin's largest eye care chain will get a dividend of 75 cents in the euro and unsecured creditors will receive 10pc of what they are owed, under a rescue deal approved at the High Court.

The exit from examinership of Donal MacNally Opticians and Von Opticians, an associated company, saved 24 jobs.

Please log in or register with Independent.ie for free access to this article.

Log In

The two companies operate shops in Sutton, Malahide, Clondalkin, Santry and Navan. All will remain open.

Judge Jacqueline Linnane granted examiner Myles Kirby an order accepting a scheme of arrangement that will see the companies exit insolvency.

The largest supplier to the chain, Peter Marley Ltd, owned by Anthony and Donna Marie Lawless, has taken over the two companies with a €250,000 rescue package.

Irish Independent

Also in Business