Examiner appointed to O’Brien’s Sandwich Bars
The court was told an unspecified number of the 85 stores in Ireland are to be closed as part of proposals aimed at ensuring the survival of the company, which is insolvent with debts of more than €4 million, including €3.4m owed to Bank of Ireland.
An independent accountant believed the company needed “surgery” and, provided that was done, it has a reasonable prospect of survival as a going concern, said Rossa Fanning, for the directors. The company offered a fundamentally good product and had a sound business model, but issues related to under-performing stores and rents would have to be addressed.
