High Court backs Atlantic rescue plan

The High Court has approved a survival plan for Atlantic Homecare.

Mr Justice Sean Ryan gave his approval to the rescue scheme allowing the DIY chain, which is part of the Grafton Group, to exit examinership and continue to trade as a going concern.

The court heard that, under the scheme, fewer jobs will be lost and fewer stores closed than had been originally feared, and more than €5.7m in fresh investment has been secured.