Arramount Furniture seeks court protection in bid to continue trading

THE company which owns Arramount Furniture has sought the appointment of an interim examiner.

It will continue to trade as normal saying the move will enable it to continue trading successfully and profitably in the future.

Arramount Furniture is a subsidiary of Arramount Woodcraft (Holdings) Limited.

The company said it will negotiate with potential investors and complete appropriate arrangements with creditors with the objective of putting in place long-term arrangements to secure its future.

Arramount Furniture was established in 1995 and operates seven stores in Dublin, Limerick, Cork, Newbridge, Tullamore, Athlone and Mullingar.

The company said its current difficulties stem from the current economic downturn and reduced consumer demand.

It said all orders where deposits have been taken will be delivered and customers who place deposits during examinership will receive their ordered furniture.

Lane Bros, trading as Arramount Furniture Tralee, which is a franchisee of Arramount Woodcraft will not be affected by the examinership and will continue to trade as normal.

“The company is confident that the process of examinership will enable a solution to be found that will ensure it is set up to continue trading successfully and profitably in the future. The process of examinership in Ireland provides a standstill period of time whereby creditors cannot pursue claims against the company.

“The company has sought this protection to allow it to put in place new refinancing arrangements for creditors and bankers,” the company said in a statement yesterday. Kieran Wallace of KPMG has been appointed examiner.