Interim examiner appointed to Zumo

Interim examiner appointed to Zumo

The High Court has today appointed an interim examiner to the firm that owns and operates Zumo juice and smoothie bars.

Mr Justice John MacMenamin said he was satisfied to appoint chartered accountant Neil Hughes of firm Hughes Blake as interim examiner to Mediterranean Food and Wine Ltd, the company which operates the Zumo juice and smoothie bars.

In a petition to the court the company, with a registered address at Mary Abbey, Capel Street, Dublin, said it was seeking the protection of the court from its creditor because it had become insolvent and was unable to pay its debts.

The court also heard that there was a petition pending, which had not been advertised, to have the company wound up.

The company, which specialises in making fruit drinks and yoghart from fresh ingredients, currently employs 60 people. The Zumo bars operates under franchisee agreements in 12 different countries and is that largest juice smoothie bar chain in Europe.

Declan Murphy Bl for the company said the firm blamed its current difficulties on factors including the general economic downturn, difficulties over rental agreements it had entered into and the costs of a €4.5m buyout of one of the firm's shareholders in 2005.

Mr Justice MacMenamin made the matter returnable to October 8 next.


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