Most Fallon Byrne creditors thought to support proposals to save food business

Fri, Apr 6, 2012, 01:00

High Court

The High Court will be asked later this month to approve a scheme that will ensure the survival of the Dublin-based award-winning food business Fallon Byrne.

It is understood that the majority of the firm’s creditors have agreed to a set of proposals put forward by the court-appointed examiner to the company, which operates a restaurant and gourmet food hall at Exchequer Street.

Last January the High Court appointed Neil Hughes, of Hughes Blake chartered accountants, as examiner. The company had petitioned for protection from its creditors on the grounds that it was insolvent and unable to pay a €1.4 million tax bill.

Yesterday Mr Justice Patrick McCarthy agreed to adjourn the case to later this month, when formal agreement will be sought.