McSweeny Group out of examinership

Added: 16-03-2012

A Sligo-based pharmacy group 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 McSweeny Retail Group owns three outlets in the north west, Tohers Pharmacy in Sligo Town, Collooney Pharmacy and Dromahair Pharmacy, which together, employee around 30 people locally.

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.

The group employs 95 staff across eight retail pharmacies, six in the west and south and two in Dublin.

Its Northern Ireland pharmacies, which were trading profitably, were unaffected by the move.

The group said it plans to develop and expand its services, adding a number of medical centres in the future.