The statutory test for insolvency was met, according to the High Court. But that alone was not sufficient to tip the scales for the beleaguered confectionary company riven by internal division.
Unpaid landlords say the high street chain is sitting on a big cash pile of €15.6 million and may be using the insolvency process to write down its long-term rent debts. The outcome of today's High Court petition could set down a marker for failing businesses in the Covid era.
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