Full coverage: Scarp

A little over a year after it was first introduced Scarp, the examinership-lite process, has proved a successful lifeline for Irish firms in financial distress. The next twelve months are likely to see a further uptick in its uptake.

A deal to acquire Theya Lingerie has cratered at the final hour. The award-winning lingerie company has now run the road with Scarp and its process advisors have resigned.

Theya Lingerie was founded by Ciara Donlon to provide women with post-surgery underwear. Selling across Europe and the US, it has now run out of road and its rescue plan through Scarp could lead to a sale.

EMI MR Investments has objected to a rescue plan for the well known George's Street eatery co-owned by chef Dylan McGrath. The firm, owed €700,000 by another of McGrath's ventures linked to Fade Street Social, has put forward an alternative investment plan.