A petition to wind up retail giant Dunnes Stores has been withdrawn at the Commercial Court after the company paid €21.6m owed for a shopping centre development in Kilkenny.

Dunnes Stores chief Margaret Heffernan has told Nama it will be held responsible for the “very significant losses” her company will “inevitably” experience if a petition to wind up the retail giant over non-payment of €21.6m for a Kilkenny shopping centre development is pursued.

Dunnes Stores has been ordered to pay about €20m due to a company which built a shopping centre in which the chain agreed to be the anchor tenant.