Creditors oppose court protection for debt-ridden Chartbusters

TWO creditors of Chartbusters, which operates 37 home entertainment stores and has debts of€20 million, are opposing the continuation of court protection for the company, the Commercial Court heard yesterday.

Mr Justice Peter Kelly was told Lombard Ireland and Woodchurch Investments are opposed to having an examiner confirmed for the company and had filed affidavits yesterday outlining their reasons. Other creditors, including the Revenue and ACC Bank, adopted a neutral position.

Bank of Scotland (Ireland), KBC Bank, Lombard Ireland and Friends First Finance are owed €12m by Chartbusters, while landlords are owed €2m.