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New investor set to save Fallon & Byrne

AWARD-winning food business Fallon & Byrne is to be saved by fresh investment, the High Court has heard.

Last January, the High Court appointed Neil Hughes, of Hughes Blake, Chartered Accountants, as examiner to the company, which operates a restaurant and gourmet food hall in Dublin.

The company had petitioned for an examiner while insolvent and unable to pay a €1.4m tax bill.

Judge Brian McGovern extended the period of protection to 100 days he was told Mr Hughes was confident he will be able to present a survival scheme to be approved before the end of April. The identity of the new investor and the full terms of the agreement are confidential.