Extension of period of protection

Atlantic Home Care, the Irish DIY chain that has got into financial difficulties, can now continue to conduct its business activities for a further 30 days under the protection of the insolvency law. It took the step into insolvency proceedings in June, having made losses of € 21 mio in the previous five years.The court decision to extend the period of protection from 70 to 100 days was made at the request of the interim examiner, who comes from PWC, a management consultancy. Negotiations with landlords have apparently been successful and Woody’s DIY, a sister company within the Grafton Group, has again emphasised its willingness to invest in Atlantic.