Superquinn suppliers must be protected - John McGuinness

Fianna Fáil Spokesperson on Small Business John McGuinness has said the hundreds of small firms which supply goods to Superquinn supermarkets must be protected.

Fianna Fáil Spokesperson on Small Business John McGuinness has said the hundreds of small firms which supply goods to Superquinn supermarkets must be protected.

Deputy McGuinness commented, “We cannot allow a situation where more than 600 firms who supplied food and drink to Superquinn are being left high and dry or being offered paltry deals as the receivers tackle the company’s substantial debt.

“The banks may have called in receivers to help secure the best possible take-over deal for Superquinn, but this is little comfort to the small food and drink suppliers who are owed significant amounts of money. Some of these companies are also customers of the very same banks that have forced this situation. Many of these firms are small indigenous suppliers who cannot be saddled with the debt themselves, and may have to let staff go if they do not get the money they are owed.

“The situation has gotten so bad in this process that Andrew Street has quit as Chief Executive of Superquinn in response to the way the receivership is being handled and his suppliers are being treated. Some Directors are also challenging the Receivership process.

“I am calling on the Minister for Jobs, Enterprise and Innovation Richard Bruton to intervene to ensure that the needs of the suppliers are represented in this case. I would also support a review of receivership procedures that could result in greater protection for all interests involved. We must do everything we can to ensure that the Superquinn take-over does not result in significant job losses for small businesses or damage the existing relationship that Superquinn has with many of its suppliers,” he said.