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Court appoints liquidators to Spicers Ireland

Court appoints liquidators to Spicers Ireland

May 5, 2020

Court appoints joint provisional liquidators to the Dublin based Spicers Ireland while UK parent files notice of intention to appoint administrators.

On Friday 1 May, the High Court appointed joint provisional liquidators to Dublin based Spicers Ireland who office supplies wholesaler employing more than 40 people. Luke Charleton and Colin Farquharson both of EY are the joint provisional liquidators to the company.

Established in 1987 the company has traded successfully with their last public accounts showing their 2018 turnover was €16,610,000 ($18,028,202) with pre tax profits of €745,000 ($808,533).

Meanwhile in the United Kingdom, Spicers Ireland parent Spicers Limited to Spicers Ireland Ltd, have filed a notice of intention to appoint administrators for both UK based Spicers and OfficeTeam.

In a company statement the said “In light of the financial position of the company and unpredictable trading, the board of directors have taken action to protect the business and have filed a notice of intention to appoint administrators for both Spicers and OfficeTeam.

The board continue to explore all options to ensure a satisfactory future for the business and secure as many jobs as possible. Whilst we continue to look for solutions, we are committed to support and supply our customers.

During this period we remain open for business and will continue to supply our customers with any products we have in stock. Where there is an impact on our supply chain and we cannot guarantee the supply of goods, we will continue to be proactive and help our customers source these products by providing details of our suppliers, where the order could be completed directly with them in the short term.”

Established in 1946 and employing 450 people, the company’s latest public accounts show their 2018 turnover was £164,782,000 (€189,329,088 / $205,143,914) with pre-tax losses of £7,236,000 (€8,314,477/ $9,009,811).

Categories : City News

Tags : EY Insolvency Ireland Spicers Ireland Spicers Limited UK

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