B&Q IRELAND, THE home improvement retailer, has successfully filed a petition with the High Court seeking the appointment of an examiner.
The court has granted protection for the company and has appointed Declan McDonald of PWC as interim examiner.
During the examinership process, B&Q Ireland hopes to continue to trade at all nine stores, all employees will be paid, and all pre-paid goods and services, including kitchens, bathrooms and bedrooms and their installation, together with gift vouchers and credit notes will be honoured.
The company said they have been impacted by the recession and in particular by the decline in consumer spending in the housing sector.
The home improvement and garden centre retailer, which has operated here since 2002, has nine large B&Q outlets around the country and employs 690 people. It is owned by UK company Kingfisher.
Brian Mooney, Chairman of B&Q Ireland said: “Our colleagues have been briefed on today’s development, and understand that the company’s objective in seeking the appointment of an Examiner is to try to protect jobs and retain competition and consumer choice in the market.
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