Examinership 'helped to save more than 1,200 jobs this year'

Examinership helped to save more than 1,200 jobs so far this year, according to a recent report.

The Hughes Blake Examinership Index also revealed that retail continues to be the most likely sector to utilise the examinership process in Ireland.

However, despite the economic recovery, businesses are still finding themselves in examinership due to legacy issues.

Managing partner at Hughes Blake Chartered Accounts, Neil Hughes, said that examinership can help retail businesses.

"For example, the issue of upwards-only, unsustainable, leases - because examinership is the only way, in Irish law, that a business can exit form an onerous, upwards-only lease," he said.

"Aand it's for that reason that I think we’re still seeing many retailers in the country continuing to utilise examinership, and we'd expect that to continue in 2016."