Green light for Superquinn sale as examinership petition withdrawn

Superquinn's proposed sale to Musgraves is set to proceed after a petition seeking to have the company put in examinership was withdrawn.

This morning the High Court was informed an application by Superquinn for examinership was being withdrawn after Musgraves announcement that a €10m fund is to be established to reimburse certain creditors of the company. That scheme is dependant on the sale of Superquinn to Musgraves.