The petition for court protection and an interim examiner was sought in relation to Compu b Retail Ltd. Stock imageAn interim examiner has been appointed by the High Court to the Irish-headquartered parent of Compub, a reseller of Apple premium computer products, and three related companies in the UK employing a total 395 people, of whom 110 are in Ireland. Compu b, founded in Limerick in 1992, has six stores here – at Grafton Street, Dublin; Dundrum Town Centre; the Pavilions, Swords; Limerick, Cork and Galway – and 24 stores in the UK. The petition for court protection and an interim examiner was sought in relation to Compu b Retail Ltd, with registered offices at Ballymount, Dublin, and three UK based companies, Compu b Ltd, StormfrontRetail Limited and Stormfront Technology Ltd. Compu b Ltd (CBL) acquired the two Stormfrontcompanies in late 2019 and owns Compu b Retail Ltd (CBRL). It said the Covid-19 pandemic has delayed planned integration synergies and a cost reduction programme with the result the Compu B group has incurred significant ongoing losses through the Stormfrontgroup in the period from January to May 2020. Earlier, having heard evidence from Andrew Victory, group financial director of the companies, the judge said he was satisfied the UK companies have their centre of main interests in Ireland.

Source: Irish Independent July 03, 2020 17:22 UTC