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The High Court will approve a survival scheme for the Cara group of pharmacies in the New Year if the examiner can provide a full picture of the company s situation.
Mr Justice Denis McDonald indicated on Friday that the court would approve an examiner s scheme of arrangement for the group, if examiner Ken Tyrell can produce a supplemental report adding to a proposal for restructuring and new investment.
The group, whose controlling shareholders are former RTE Dragons Den presenter Ramona Nicholas and her husband Canice Nicholas, has 13 stores and 141 employees.
It suffered pre-tax losses of €4.6m between 2016 and 2019 and the main creditor, Elm Corporate Credit, is owed €14m. ....

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