Superquinn directors seek appointment of examiner

A BATTLE over the future control of Superquinn, which employs almost 2,700 people, began in the High Court yesterday evening when the company and directors initiated an application aimed at securing the appointment of an examiner to the company.

The directors say the appointment of joint receivers to the company by Bank of Ireland last Monday “spells the end” of its undertaking and represents a “disaster” for creditors and employees.

They claim the inevitable outcome of receivership and proposed sale to Musgrave Group plc will lead to a number of involuntary redundancies and trade creditors — owed about €55 million — being “burned”, while the liabilities of the bank are met.