Woodies ready to invest to save Atlantic Homecare

Woodies DIY is prepared to invest in a plan aimed at securing the survival of the Atlantic Homecare DIY store chain, the High Court heard yesterday.

Mr Justice Paul McDermott was informed of the proposed investment after he agreed to extend the period of protection granted to the chain, part of the Grafton Group, from its creditors from 70 to 100 days.

Last June, the High Court appointed Declan McDonald of PwC as interim examiner to Atlantic after the court heard that most of the chain’s 13 stores were trading at a loss.