Interim examiner appointed to Cara Pharmacy Group – RTE.ie

The High Court has appointed an interim examiner to the Cara group of pharmacies, which employs over 160 people.

The group’s directors are former RTE’s Dragon Den presenter Ramona Nicholas and her husband Canice Nicholas, who had opposed the application.

The application for the examiner’s appointment was sought by Elm Corporate Credit DAC, which is the group’s lender and is its largest creditor.

Rossa Fanning SC for the company told the High Court on Friday that the group had been loss making every year since 2016, and was insolvent. The best course of action to save the business and the jobs was the appointment of an examiner, counsel said.

Aillil O’Reilly BL for the group asked the court to adjourn the Elm’s application for the appointment of an interim examiner to the group.

He said the directors were very concerned about the impact the appointment of an examiner would have on

Continue reading this atricle at https://www.rte.ie/news/business/2020/0904/1163276-interim-examiner-appointed-to-cara-pharmacy-group/