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Pharmacy debt battle

THE High Court has appointed an interim examiner to 11 companies in the McSweeney pharmacy group, which employs 95 workers.

The group has debts of more than €17m, with more than €13m owed to AIB, but says a deficit of more than €50m would arise if it were liquidated.

The court heard the group, as part of a proposed restructuring, is planning to place some of its unprofitable companies in liquidation, or sell them.

Most of the group's losses are being incurred in pharmacies at Arthur's Quay, Limerick, Middleton and Clonakilty, Co Cork, and Killarney, Co Kerry, it said.