New 'Fast-Tracking' Legislation For Examinership To Save Retail Jobs
Published on Oct 11 2013 12:49 PM in Retail
The proposed legislation for Examinership will help save jobs in retail according to Retail Excellence Ireland. The organisation says it will help smaller retailers by making the process more available through reduced costs, as a lower court will be able oversee a case.
Retail Excellence Ireland chief executive, David Fitzsimons, said “REI has actively lobbied Government for some months to provide retailers, and especially smaller retailers, with a mechanism to kill off onerous leases with unsustainable rents.
This is very welcome, albeit it has come too late for many. We urge the Government to ensure that the legislation gives absolute clarity to the judiciary to repudiate leases without costly appeals and challenges”.
Retail Excellence Ireland (REI) is the largest retail industry trade body in Ireland and involves over 1,000 leading retail companies who operate over 11,000 stores in the Irish market.