A liquidator will be nominated to take control of The Organic Supermarket Ltd, the company behind a chain of Dublin retail outlets and a grocery delivery service.
According to a report in the Irish Independent, a meeting of creditors has been scheduled for 9 November, when Myles Kirby of Kirby Healy Chartered Accountants will be proposed as liquidator.
Accounts for the chain show that it was dependent on shareholders loans and that one of the company's main shareholders is also its biggest creditor. HCI Trust is a 50% shareholder in The Organic Supermarket Ltd and was owed €611,305 by the company at the end of 2017. The accounts also show that in January a further loan of €225,000 was advanced by shareholders to support working capital.
The Organic Supermarket Ltd has shops in Blackrock, Rathgar, and Malahide.
© 2018 Checkout– your source for the latest industry news. Article by Maev Martin. Click subscribe to sign up for the Checkout print edition.