DUNNES Stores is in the Commercial Court today over an application to wind up the retailer because of a €21.6m debt owed for building work on a Kilkenny shopping centre.
The insolvent construction company Holtglen has brought the winding-up petition to court under the Companies Act. Holtglen, whose loans are with NAMA, say that Dunnes failed to pay and ‘gave no reason or excuse’.
The debt is the subject of a High Court order made last March, ruling that Dunnes should pay the €21.6m. But the retailer has expressed serious concerns over the viability of the Ferrybank Shopping Centre.