The High Court has appointed an interim examiner to the Irish arm of the fashion retailer chain ‘New Look’.
New Look Retailers (Ireland) Limited, which operates 27 stores and employs 475 people, had sought the protection of the courts due to financial difficulties and losses caused by the fallout from the Covid-19 pandemic.
At the High Court on Friday evening Mr Justice Max Barrett said he was satisfied to appoint experienced insolvency practitioner Mr Ken Fennell of Deloitte as interim examiner to the company.
Noting the company’s financial difficulties, the judge said the contents of an independent expert’s report which stated that the company has a reasonable prospect of survival as a going concern, if certain steps are taken.
Those steps included the appointment of an examiner, who will attempt put together an agreed scheme of arrangement with the firm’s creditors.
Seeking the Mr Fennell’s appointment, Kelley Smith Bl for
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