Courts / Dublin / Report

Provisional liquidators appointed to Cube Logistics

Summary

The High Court on 3 July 2024 appointed Tom Murray and Eoin Massey of Friel Stafford as joint provisional liquidators for Cube Logistics 3PL Limited, a freight logistics company employing over 30 people. The court found the company insolvent, unable to pay debts as they fall due, after a difficult 2023 trading year that saw losses of €610,000 despite a turnover of €5.38m. Cube had expanded by leasing two new warehouses, but new customers did not use them, and it lost key clients such as Hilti Ireland, Lloyd Fraser Holdings' UK parent, and PRL Ireland. The company owes €655,000 to Revenue for VAT, PAYE and PRSI and cannot meet a phased payment arrangement. It had attempted restructuring via SCARP and considered examinership, but the court deemed that option unviable. The liquidators will manage the company's affairs, including customer stock worth about €5m, and may continue trading, dismiss or retain staff.

Who, what, where, when and why

What: Report matter: Provisional liquidators appointed to Cube Logistics. Procedural stage: hearing_or_decision

When:

• 2021 and 2022 Other
• 2024-07-03 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Related court reports

• Man charged with having 56k child abuse images and videos remanded on bail
• Ex-Dáil hopeful's allegations against former employer 'complete fantasy', WRC told
• Mater must pay €10k to worker who said he was wrongly accused of abusing patient
• 'I think we know I won't be getting bail' - Daniel Kinahan charged with directing criminal organisation
• Letting agent who claimed alleged domestic violence victim abandoned tenancy by fleeing to refuge must pay €14.7k
• 77-year-old with 470 convictions told Luas staff to 'f**k off'

Read the original CNI report