Companies
HealthBeacon to be bought by US firm Hamilton Beach Brands for €6.9 million
Rescue deal will see senior creditors made whole and unsecured creditors recover more than had been expected
HealthBeacon is set to be bought by Hamilton Beach Brands, a US seller of home appliances, for €6.9 million in a rescue deal, it has emerged.
The deal will see senior creditors made whole and unsecured creditors recover more than had been expected.
The Irish Times is reporting that the scheme of arrangement was drawn up by insolvency practitioner Shane McCarthy of KPMG.
In October, McCarthy was appointed as examiner to HealthBeacon because it had run out of cash, which prompted the resignation of the company’s chief executive and co-founder Jim Joyce.
