Restructuring of Quinn Group now complete

The financial restructuring of the Quinn Group has been completed, the company said today.

In a statement Quinn said the restructuring represents the culmination of nearly two years’ complex negotiation and uncertainty.

"Following the recent sale of Quinn Insurance and the previous approval by the creditors of Quinn Group to the company’s proposals for a financial restructuring, the company is pleased to announce that all relevant legal documentation was completed today and therefore the restructuring has been fully implemented," the statement said.

"By permanently removing over €800m of debt burden and placing the manufacturing businesses on a sound financial footing, we can focus all our efforts on implementing our plans for the business," CEO Paul O'Brien added.