High street horrors go on
More high street horrors as one retail chain went into examinership, and an effort to save another from it’s creditors failed.
Golden Discs, which has one remaining outlet in Limerick at the Jetland Shopping Centre, were in the high court today as an interim examiner was appointed to the chain.
During the hearing, it was heard that Golden Discs is in the red to the tune of over €9m, and that six of it’s 20 remaining stores are losing money.
Sony Music, who are owed €1.4m, made the application to have the examiner appointed.
Meanwhile, the parent company of Barratts Shoes, who have an outlet at the Crescent Shopping Centre, has itself been put into administration after efforts to set up a company voluntary agreement to pay it’s debts were unsuccessful as proposals made to creditors were rejected.
Deloitte are the administrators and are currently in discussions with interested parties in an effort to find a buyer for the company.