Tuesday 12 December 2017

Hundreds witness stand-off after receiver tries to take over shop

A lengthy stand-off in a Co Monaghan superstore was continuing last night after a businessman attempted to stop a bank-appointed receiver from changing the locks on his business earlier in the day, writes Joe McCabe.

Several hundred people converged outside Quinn's Superstore in Carrickmacross last night as the stand-off continued and gardai were called to the scene.

The supermarket went into receivership on January 13 owing more than €7.2m to AIB after which receiver Kavanagh Fennell of Ballsbridge was appointed by the bank.

On Wednesday, Michael and Bridget Quinn were called up to a meeting with the receiver in Dublin.

Bridget Quinn said last night: "They told us that the bid we had put in to purchase the shop back from AIB was not successful, that it wasn't at a proper level and that they didn't require the input of Michael or myself into the business any longer."

Mrs Quinn said that AIB had effectively kicked the couple out of the business that they had built up over the past 23 years.

A representative of the receiver declined to comment on the situation.

Irish Independent

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