B&Q Update: High Court grants Examinership extension

Friday 12 April 2013

Earlier this week, the High Court held a hearing regarding the Examinership process of B&Q where Judge Kelly extended the protection of the Court to the company until the 9th May 2013.

The Court was told that 4 stores are in advanced stages of negotiations with regard to their rent, one of which is Liffey Valley.

During the past number of weeks, the Athlone Store has been successful in renegotiating their rents and Judge Kelly said that this has given rise to the possibility that this store will continue trading after the Examinership process.

The only issue that seems to be preventing the Kingfisher Group – the parent company – from reinvesting in the Irish arm of the business seems to be the conclusion and success of the renegotiated rents with the various landlords.

It is expected that Declan McDonald – the Examiner appointed by the High Court -will give a comprehensive report to the Court on or before the 9th May outlying the Scheme of Management, ie, the business plan that will be implemented after the Examinership process is completed.

Alternatively, Mr McDonald will report the failure of the Examinership process to the Court, which doesn’t seem likely at this stage.

All B&Q workers are strongly advised to join with their colleagues in Mandate Trade Union.