The Director of the Small Firms Association (SFA), Patricia Callan, has condemned the Superquinn receivership as being "sharp practice."
Following the appointment of joint receivers on Monday, the receivers agreed an overnight deal to sell Superquinn to the Cork-headquartered Musgrave Group - - for details, click link in Related at bottom of page.
Callan commented: “We have been inundated with
calls from small food and drink suppliers throughout the country, who are
concerned for their future business viability, and the jobs of the staff they
employ, as a result of the appointment of receivers to Superquinn. The fact that
the Receivership, the proposed sale to Musgrave, and letters to Suppliers
stating that the receivers 'have no authority to agree or pay any debts due
to suppliers which arose prior to our appointment' have all taken place in
24 hours, demonstrate that this was a well planned process to write off debt,
and thus devastate the small business food and drink sector."
Food and Drink Industry Ireland (FDII), the IBEC
group that represents the food industry, today reacted to the announcement that
receivers have been appointed to Superquinn. The group is seeking immediate
clarification from the receiver as to whether trade creditors who are owed up to
€100m will be paid in full for goods already provided.
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