Courts / Dublin / Report

Provisional liquidators appointed to operators of Clerys Department Store

Summary

In a High Court hearing on 12 June 2015, Mr Justice Paul Gilligan appointed Eamon Richardson and Kieran Wallace of KPMG as joint provisional liquidators for OCS Operations Ltd, the company that runs Clerys Department Store and Warehouse. The company, which had petitioned for the appointment, was told to cease trading immediately to stop further debt accumulation. OCS Operations, described by the judge as "balance sheet insolvent" and in "severe financial difficulty", employs 130 staff directly and has about 330 concession‑holder employees who sell goods in the store. The liquidators were granted powers to take possession of assets, manage staff, pay creditors and continue the business pending a winding‑up hearing. The appointment followed the sale of the OCS group to Natrium Ltd, after which OCS Operations was transferred to insolvency practitioners Jim Brydie and Brendan Cooney for €1. The case was adjourned to early July for further proceedings.

Who, what, where, when and why

What: Report matter: Provisional liquidators appointed to operators of Clerys Department Store. Procedural stage: hearing_or_decision

When:

• August 2012 Other
• January 2015 Incident
• September 2016 Incident
• 2015-06-12 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report