Irish menswear mini-chain Best Menswear has appointed examiners, after the sudden closure of department store Clerys last month had a “catastrophic” effect on the company.
The company, which has 15 stores across the Republic of Ireland, had its largest store as a concession in Clerys in Dublin.
The problems occurred as a result of a loss of €270,000 (£189,456) held by Clerys in trust for Best from previous sales, combined with the loss of sales since Clerys shut, said Rossa Fanning BL for the company.
Approximately €500,000 (£350,926) stock was also locked in the Clerys building and could not be sold for a week after it closed, reported the Irish Independent.
Justice Caroline Costello granted court protection to the company and appointed Declan McDonald of Price WarerhouseCooper as interim examiner pending the hearing of the petition for examinership on July 30.
Best Menswear was established in 1948 and employs 250 people.