Courts / Ireland / Report

Liquidators believe all Debenhams employees will be made redundant

Summary

The High Court confirmed the appointment of joint liquidators Kieran Wallace and Andrew O'Leary of KPMG to Debenhams Retail Ireland, which operated 11 stores and employed 950 staff directly, with an additional 500 at concession stands. The liquidators believe the business is unlikely to be acquired by another party, so all employees will be made redundant. The Irish subsidiary had been in financial difficulty for some time, incurring losses of over €40 million in 2018 and 2019, and was propped up by its UK parent until the parent ceased funding. The court noted the directors had no alternative but to seek liquidation. The liquidators have entered a 30‑day consultation period with employees, the Mandate and Siptu trade unions, and the Minister for Social Protection, while planning to realise assets for creditors. The company's creditors include Revenue (€3.8 million), landlords, trade creditors, other group firms and employees.

Who, what, where, when and why

What: Report matter: Liquidators believe all Debenhams employees will be made redundant. Procedural stage: hearing_or_decision

When:

• 2018 and 2019 Other
• 2020-04-30 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report