Superquinn Directors in High Court to overturn receivership

A number of Directors at Superquinn are back in the High Court today in a bid to overturn the appointment of receivers at the chain.

Last week, Superquinn went into receivership and the Musgrave Group proposed to buy the company.

The Directors are seeking the appointment of an Examiner.

The court will be asked to decide whether an application to appoint an examiner to Superquinn was validly made.

The outcome of the preliminary hearing today will determine whether a full hearing of the examinership petition will proceed on Thursday.

Suppliers to Superquinn are concerned at the level of money owed to them with many facing cash-flow problems.

Musgraves today placed advertisements in the national newspapers urging suppliers to access their retail networks which include SuperValu and Centra.

Paul Kelly, Director of the Food and Drink Industry Ireland says anything that can help struggling suppliers would be welcome.