Adviser appointed to restructure business under State’s ‘examinership light’ process
On May 2nd, the company appointed accountant Joe Walsh as its process adviser under the scheme, introduced by the Government in 2021 as a more cost effective alternative to the examinership process for small businesses.
The most recent accounts for CEBL reveal that it had accumulated losses of €3.9 million at the end of 2020, having lost €268,137 in the year. The directors noted that the company’s performance “gives rise to concerns” about its “ability to continue operating as a going concern.This uncertainty could result in the company being unable to realise its assets and discharge its liabilities in the normal course of business.
Ms Barry, who resigned as a director in 2019, according to Companies Office filings, told The Irish Times in 2020 that Covid-19 had “a massive impact” on the company’s “bricks-and-mortar toy store sales”.
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