NEWS

Debenhams Ireland to emerge from examinership unopposed

Published on: 27th July 2016

The company is understood to have resolved differences with landlords.

debenhams-480The High Court has extended the standard 100-day examinership period for Debenhams Ireland until 19th August. This will give examiner Kieran Wallace time to secure a rescue package for the company.

After seeing off competition from UK billionaire Mike Ashley, Debenhams’ UK parent is the preferred bidder to buy the business in Ireland out of insolvency.

Debenhams Ireland applied for court protection for 11 of its stores last May, and as part of its survival scheme, it sought to repudiate six leases. It faced opposition from landlords.

The dispute has since been resolved, and it is understood that an agreement is now in place covering all 11 leases.

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