400 jobs saved in first quarter

Nearly 400 SME jobs were saved during the first quarter of this year through use of the examinership process; now made easier and more cost-efficient by new legislation.

New figures from Dublin-based chartered accountants, Hughes Blake, show that 372 jobs were saved between the beginning of January and the end of March at six firms – Fossett’s Circus; Hyper Trust, the operator of Dublin pub, the Leopardstown Inn; structural steel supplier, Henry McGinley & Sons; and fashion chains Karen Millen Ireland, Warehouse Fashion Ireland and Coast Stores Ireland.

Legislation now allows SMEs to apply for examinership – if in need of court protection to safeguard the future of their business – via the Circuit Court rather than the High Court; a move which should typically slash average examinership costs by around 30% to €7,000.