McSweeny pharmacy group to exit examinership

irishtimes.com - Last Updated: Thursday, March 15, 2012, 16:12

CIARA O'BRIEN

Pharmacy group McSweeney is to come out of examinership at the end of the month.

The High Court approved the scheme of arrangement proposed by the examiner to McSweeney Retail Pharmacy Group.

The group employs 95 staff across eight retail pharmacies, six in the west and south and two in Dublin. It will remain under court protection until noon on March 28th, when it officially emerges from examinership.

An examiner was appointed to the group late last year after the chain sought court protection from its creditors. The group had debts of about 17 million, owing about 13 million to AIB. The bank had opposed the examinership, seeking instead to have a receiver appointed to the group.

Its Northern Ireland pharmacies, which were trading profitably, were unaffected by the move. The group said it will plans to develop and expand its services, adding a number of medical centres in the future.

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McSweeny pharmacy group to exit examinership