Receiver Appointed to Odessa Restaurant
Published on Feb 26 2015 10:17 AM in Restaurant
A civil court judge has appointed an interim receiver to Odessa club and restaurant, the Irish Times reports.
The restaurant, located in Dame Court, Dublin 2, is currently insolvent and has debts of over €1 million. Judge Jacqueline Linnane appointed the receiver in order to prevent liquidation and a loss of some 68 jobs.
Under the receivership, barrister Ross Gorman told the Judge, the business has a chance of survival, as the restaurant's unsecured creditors would receive some dividend and would be able to continue trading.
The restaurant, in the heart of the city centre, came into difficulty in recent years due to competition in the area. It is a six-floor, 185 capacity restaurant and club that was bought by the current owners in 2008.
Judge Linanne directed the appointment of Joseph Walsh, of Hughes Blake Accountants, as interim examiner to the company.