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Full coverage: Insolvency

“You can’t put an entire economy into hibernation for a sustained period and not expect a huge fallout”

Former Arthur Cox boss Eugene McCague was a top corporate insolvency lawyer during the recession of the 1980s and the financial crash a decade ago. He believes the current crisis will leave deep scars, particularly in retail, hospitality, and travel.

Ian Kehoe
24th Aug, 2020 - 6 min read

With their business left nursing debts of €4.1m, the owners of House of Ireland thanked their staff and expressed regret

A series of companies connected with the retail were liquidated today, with its owner pointing to the pandemic and the collapse in future tourism. Most of the money is due to the family behind the business.

Ian Kehoe
20th Jul, 2020 - 1 min read

Insolvent Debenhams faces legal action by vulture fund landlord

When US investment firm Marathon Asset Management swooped in on Irish property after the financial crisis, three Debenhams stores entered its portfolio. The landlord is now suing the retailer.

Thomas Hubert
5th Jun, 2020 - 2 min read

Vernon Catering exits examinership with Cox family rescue

A High Court judge has approved a plan combining creditor haircuts and investment by Thurles Wholesale Cash and Carry, the company owned by the Kildare-based Cox family of grocery wholesalers.

Tom Lyons
4th Jun, 2020 - 2 min read

Interim Examiner appointed to insolvent Maximum Media in Ireland following court move by Beach Point Capital

KPMG has been appointed as interim examiner to the Niall McGarry-founded business following a move by the debt financier Beach Point. The examiner now has 100 days to save the publisher behind Joe.ie and Sportsjoe.ie.

Tom Lyons
15th May, 2020 - 3 min read

Losses, liabilities and a £200 million group debt default threat: how Debenhams’ Irish stores hit the wall

Court documents reveal that the retailer failed to stem losses in the year prior to the Covid-19 pandemic and is now exposed to loan charges contracted by its troubled UK parent.

Thomas Hubert
13th May, 2020 - 3 min read

Last coffee on Grafton St: The long history behind Bewley’s expensive home

The iconic Dublin cafe faces closure once more, hit by Covid-19 restrictions and a rent dispute – just one of the many costs associated with its historic building on Ireland's most expensive street.

Tom Lyons
8th May, 2020 - 11 min read

CityJet uncovered: How airline was grounded by mounting debts, spiralling losses and a global pandemic

Irish airline CityJet was already suffering before the Covid-19 lockdown grounded its fleet – and the pandemic made a bad situation much worse. New documents reveal the company’s torrid trading performance and its plan for survival.

Ian Kehoe
24th Apr, 2020 - 9 min read

“Catastrophic impact”: anatomy of Usit’s lightning-fast insolvency

One month ago, directors of the historic student travel agency met to sign off on a promising set of accounts. Last week, they agreed to wind up the company. The downfall reveals the devastation being caused by Covid-19 in the travel sector.

Thomas Hubert
1st Apr, 2020 - 8 min read

Cash crunch, faltering margins and chronic oversupply: Why the restaurant industry is braced for an annus horribilis

Five Irish restaurants pulled down the shutters in the first two days of the year and experts say two a week could close this year. Yet, planning applications for new eateries continue to surge. Is it simply healthy competition, or have we reached peak restaurant?

Cait Caden
9th Jan, 2020 - 14 min read
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