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Provisional liquidators have been appointed to Laura Ashley in Ireland. Steve Parsons/PA Wire/PA Images

Provisional liquidators appointed to Irish arm of Laura Ashley chain

The fashion retailer operates five stores in Ireland.

THE HIGH COURT has appointed joint provisional liquidators to the Irish arm of the fashion retailer Laura Ashley, which operates five stores in Ireland.

Laura Ashley Ireland Ltd, which is part of the Laura Ashley group and employs 76 people in Ireland, sought the winding up order arising out of its UK parent’s decision to enter administration in that jurisdiction.

The group, which sustained loses in recent years, entered administration after the outbreak of Covid-19 ended its attempts to raise third-party investment that it said it required in order to continue to trade.

At the High Court this afternoon, Mr Justice Michael Quinn said he was satisfied to appoint experienced insolvency practioners Ken Tyrell and Declan McDonald of PWC as the company’s joint provisional liquidators.

The evidence before the court was that the company was insolvent.

Seeking their appointment Rossa Fanning SC for the Irish firm told the court that the UK parent had informed his client that because of the administration it would no longer be able to provide the Irish company with any further financial support.

Without that support the Irish company, which had seen a decline in revenue in recent years, could not survive as it has a balance sheet deficit of over €563,000.

Counsel said that in addition to the parent group’s situation, the Irish firm had also been experiencing financial difficulties in recent years.

However the Covid-19 outbreak has had on catastrophic impact on its financial position.

In line with all other retailers the five Irish stores closed some weeks ago.

Prior to closing their doors that there had been a dramatic reduction in customer volumes and sales when people stopped going to shops, he added.

Counsel said the Irish company has liabilities of €3.3m, 80% of which was owed to other companies within the group. Other creditors include Revenue, trade creditors and landlords.

The appointment of provisional liquidators would help ensure an orderly winding up, and was in the best interests of the all the parties concerned.

Counsel also said that the parent firm’s administrators had been in talks with a party interested in acquiring some of the group’s Irish and UK assets.

A successful sale, counsel added, could potentially result in some or all of the Irish jobs and the business being saved.

It was also envisaged that the provisional liquidators will work with the administrators of the UK parent as part of the asset sale process, counsel said.

The parent company, which had made loses in recent years, went into administration last month after it failed to secure fresh investment that would have allowed it continue to finance its operations.

The emergence of Covid-19 resulted in a sudden deterioration in the global economic outlook and for fashion in particular, counsel said.

The virus meant that the group was unable to raise the funding it required to allow it continue to trade, resulting in the appointment of administrations and the closure of a large number of its stores in the UK.

The judge, after confirming the provisional liquidator’s appointment, adjourned the matter to a date in early May.

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    Mute Casper
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    Nov 10th 2017, 5:07 PM

    Seven years what a joke

    231
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    Mute Matt Connolly
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    Nov 10th 2017, 5:14 PM

    @Casper: Can only sentence what the max was at the time of the offence, in the 70′s.

    Legislation allows for bigger sentences now.

    47
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    Mute Casper
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    Nov 10th 2017, 5:19 PM

    @Matt Connolly: well if that’s the case the law needs to be changed to allow for bigger sentences, it don’t matter what decade it was or is it still has the same impact on its victims and society as a whole.

    117
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    Mute the phantom
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    Nov 10th 2017, 5:25 PM

    @Casper: agreed. It must be possible to classify violent rapists (those proven to ever have offended) as on-going dangers to society and jail them at the discretion of the minister for justice.
    Could even apply to people who committed such acts abroad. Not a bad way to keep out people who have done so in other countries too.

    22
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    Mute John O'Neill
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    Nov 10th 2017, 5:38 PM

    @Casper: it is my understanding that the judge made this 7 year sentence run consecutively to the 7 year and 10 months sentence he is already serving which is right and proper

    21
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    Mute Casper
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    Nov 10th 2017, 5:44 PM

    @John O’Neill: well that’s good to know

    8
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    Mute Dean Moriarity
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    Nov 10th 2017, 5:34 PM

    Parents should be very wary of letting their kids play GAA. Far too much of this going on under the county banner.

    71
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    Mute Casper
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    Nov 10th 2017, 5:41 PM

    @Dean Moriarity: don’t be silly you can’t paint every one with the one brush, lots of good people give of their time to these clubs day in and day out and well done to their commitment, but clubs do have a duty of care to make sure that volunteers are vetted and provided training in child protection

    97
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    Mute Cultural Marxist
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    Nov 10th 2017, 5:53 PM

    @Casper: That’s what they used to say about the Catholic Church until the full extent of the paedophilia and cover up was revealed. The GAA is run along the same lines, unquestioning loyalty to the parish coach who has access to children via a position of trust. This is only the tip of the iceberg in the GAA.

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    Mute Casper
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    Nov 10th 2017, 5:59 PM

    @Cultural Marxist: well if that’s true I would assume its historical, I don’t believe that would be the case in this day and age, and I hope that people keep coming forward and put their perpetrators behind bars where they belong

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    Mute Cultural Marxist
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    Nov 10th 2017, 6:08 PM

    @Casper: Agreed.

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    Mute Thomas Blackcat
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    Nov 10th 2017, 6:15 PM

    @Cultural Marxist: Not happening now? That’s what the RCC and GAA swore then….and it’s still happening. People are both blind and stupid…..

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    Mute Casper
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    Nov 10th 2017, 6:35 PM

    @Thomas Blackcat: sounds like you have some information or evidence of serious crimes if you do you better take it to the Garda, and if you don’t stop blowing smoke out of your arse

    31
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    Mute Ray Muller
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    Nov 10th 2017, 7:58 PM

    @Cultural Marxist:
    Perverts will infiltrate any organisation that will provide cover for their despicable criminal acts. Being a cultural Marxist perhaps you are aware of Bella Dodd?
    “In the late 1920′s and 1930′s, directives were sent from Moscow to all Communist Party organizations. In order to destroy the Catholic Church from within, party members were to be planted in seminaries and within diocesan organizations,” Dodd stated according to the affidavit.She also stated in her book “school of darkness” that “The homosexual and heretical pollution of the priesthood was deliberate and long in the making” and that she herself under orders placed over 1100 deviants into the church to destroy it from within?

    11
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    Mute Cultural Marxist
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    Nov 10th 2017, 8:32 PM

    @Ray Muller: Calling gay people perverts and deviant, you must be a Catholic yourself. When you graduate from primary school you may also learn that there is no link between sexual orientation and paedophilia, that is why your priests molested young girls as well as boys.

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    Mute Ray Muller
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    Nov 10th 2017, 9:32 PM

    @Cultural Marxist:
    Of course there isn’t, but there is a historically connection with pederastry, or man and boy, which is what apparently occurred in this case. Its also a tag peculiar that the world leading “gay” rights group, ILGA, reportedly harboured no less that 3 of these dangerous sicko groups in their ranks for years. They even had UN funding removed because of it!
    Just saying it as it is.

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    Mute Ray Muller
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    Nov 10th 2017, 9:40 PM

    @Cultural Marxist: Of course there isn’t, but there is a historical connection, Romans and Greeks with pederastry, or man and boy depravity, which is what apparently what transpired in this case.
    Its also a tag peculiar that the world’s leading “gay” rights group, ILGA, reportedly harboured no less that 3 of these dangerous sicko groups in their ranks for years. They even had UN funding removed because of it!
    Just saying it as it is. The truth shouldn’t offend anyone?

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    Mute Sinead Hanley
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    Nov 10th 2017, 10:10 PM

    @Casper: My young fella plays hurling and as far as i am aware, there is no garda vetting (at our local club anyway). I often help out at things and no one has ever asked me to get garda vetted. The local parish council asked me to do some readings at the church regularly. And i had to be garda vetted. Its extremely strict at the church and so it should be with their disastrous record. So i do feel there is a risk at my GAA club that i didnt consider. Though i do accompany my son to ALL matches/training.

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    Mute Jumperoo
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    Nov 10th 2017, 11:25 PM

    @Sinead Hanley: Garda vetting is a requirement for all coaches and others involved with underage GAA teams, and has been for years. I don’t know to what extent you help out yourself, but maybe not to that degree? Would find it unlikely that your club doesn’t comply at all. Either way, it would probably be better for you to ask a club official than to throw such probably unfounded accusations around online.

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    Mute Sinead Hanley
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    Nov 11th 2017, 1:11 AM

    @Jumperoo: The fact is that even though my club are probably complying (as you say) with garda vetting etc, i as a parent have not been made aware of it. My son is with his club for 3 years since he was 4 and i have never heard a word about child “safety” except for the cul camps. I am not suggesting any problems with child safety but i think its important that the GAA highlight their stance from now on. I was taken aback when i read this article cos i hasnt considered it. Though i always accompany my child. There is a framed poster in our church for safety officers/people for children if u are concerned. Its not in our gaa club.

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    Mute Gearoidín Ní Fhiách
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    Nov 11th 2017, 3:05 AM

    @Sinead Hanley: Sinead, there is a legal requirement on every GAA club to have every coach, trainer or manager Garda Vetted. They are also obliged to undertake a Child a Protection course of which this subject matter is the primary focus. They must also undertake various coaching courses, but the first, the Garda Vetting is essential. It would not be possible to have every single person who turns up at a pitch checked, many are parents like yourself etc. Think about it. If your child is at a game and you’ve arranged another parent to take them home, and something sinister were to occur, there is nothing the GAA club could do to prevent that, if you follow. But a good club will take all and any precautions to ensure those with the closet contact yo kids, are safe. That said, these predators will always find a way. Can’t keep kids locked away, just in case.

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    Mute MacEochagain
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    Nov 10th 2017, 6:13 PM

    More silence from Croke Park. They need to come out and reassure people things are done properly these days…. they had more to say about a certain testimonial dinner last week!

    #headinthesand

    35
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    Mute Sean @114
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    Nov 10th 2017, 7:39 PM

    @MacEochagain: this is happening everywhere. The aggressive atheists will tell you that the abusers all have white collars. Anywhere where adults are exposed to kids this can happen. All coaches are Garda vetted but this means little unless you have a record. I’m not sure what any organisation can say unless it’s a token apology. This is a societal issue.

    11
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    Mute Gavin Huban
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    Nov 10th 2017, 7:47 PM

    @Sean @114: societal problem caused by years of religious repression…..

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    Mute Cultural Marxist
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    Nov 10th 2017, 8:34 PM

    @Sean @114: What’s an ‘aggressive atheist’? Is it someone who shouts at nothing?

    6
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    Mute MacEochagain
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    Nov 10th 2017, 9:23 PM

    @Cultural Marxist: it’s a first cousin of a cultural Marxist.. ..

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    Mute Sean @114
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    Nov 11th 2017, 12:52 AM

    @Gavin Huban: years of sexual repression maybe.

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    Mute Deborah Behan
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    Nov 10th 2017, 5:41 PM

    That sentence is a joke! Three times that sentence would be a joke. Turns my stomach.

    34
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    Mute Paul O Riordan
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    Nov 10th 2017, 5:59 PM

    Appalling behavior from someone in a position of trust. His children are probably victims also. No winners

    16
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    Mute @mdmak33
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    Nov 10th 2017, 6:03 PM

    Its time sentences were changed, instead of protecting these people.

    6
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    Mute Brian O Reilly
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    Nov 10th 2017, 8:41 PM

    A pompous self denying paedophile ,No remorse ,no remission ,

    14
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    Mute Freecakes
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    Nov 10th 2017, 10:59 PM

    The Journal, I often wonder why you even bother with images. Why not show a photo of this s*umbag – we already have his name – so we know what he looks like when he gets parole in a few years.

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    Mute Martin Byrne
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    Nov 10th 2017, 11:57 PM

    @Freecakes: to protect his victims?

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