Cara pharmacies appointed interim examiner by High Court

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

The High Court appointed an interim examiner to Cara Pharmacy Unlimited Company after its directors opposed the application. The proceedings were reported on 4 September 2020.

Mr Justice Mark Heslin appointed Ken Tyrell of PwC to the company and a dozen related companies. The group operates 13 pharmacies, provides prescriptions to nursing homes and employs more than 160 people.

An independent expert’s report said the group had a reasonable prospect of survival if steps were taken, including restructuring, fresh investment and court approval for a scheme of arrangement put together by an examiner with the group’s creditors.

The judge adjourned the matter for two weeks so objections to the examinership process could be heard.