Yvolve Sports examinership bid adjourned by High Court

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

Yvolve Sports Limited’s application for examinership was adjourned by the High Court on 5 June 2018, with the matter listed for later that month. The company makes Flicker scooters and other outdoor sports products.

The application was brought by shareholder Cloverglade Ltd after Toys R Us filed for bankruptcy in the United States, contributing to Yvolve’s cash-flow difficulties. An independent expert said the insolvent company had a good prospect of survival if an examiner was appointed and other conditions were met.

Those conditions included court protection, new investment, board changes and creditor approval of a scheme of arrangement. Yvolve employs 41 people in Ireland, according to the report.