Tullamore store goes into liquidation

A Tullamore furniture store has gone into liquidation but should remain open until customers recieve their goods. It's expected that when Furniture Deport in Tullamore Retail Park is wound up, a total of six people will be made redundant. The company went into voluntary liquidation on Monday. The High Court appointed a provisional liquidator to the furniture company which is insolvent, mainly due to the downturn in the retail trade. The company has liabilities over assets of €2.2 million but that figure, in a winding-up situation, would rise to almost €4 million, the court was told. Gary McCarthy, for the directors of the company, said it was formed in 2003 and had expanded rapidly. It had a loss in its draft accounts for 2009 of more than €1.8 million. He argued that if a provisional liquidator was appointed, he could continue to trade and ensure customers who had paid deposits could get their orders. Ms Justice Mary Laffoy appointed David Van Dessel of Kavanagh Fennell as provisional liquidator.