High Court will be asked for four Thomas Read companies to be wound up

THE HIGH Court will be asked on Monday to make orders for the winding up of four of the 14 companies in the Thomas Read group on the grounds they have no reasonable prospect of survival.

Ms Justice Mary Finlay Geoghegan yesterday fixed Monday for the hearing of the application by KieranMcCarthy, examiner to the group, for the appointment of a liquidator to the four companies, which are understood to operate The Life Bar, Irish Life Mall, Abbey Street, Dublin; Bodega in Dun Laoghaire, Co Dublin and Thomas Read’s in Smithfield, Dublin.

Meanwhile, Mr McCarthy is finalising survival proposals for the other 10 companies in the group. The judge heard yesterday that bids for the group have been advanced by a consortium, whose members were not identified, and by ACC Bank, the group’s largest creditor.