McConnells ‘handover’ is a sign of things to come

DDFH&B’s takeover of McConnells has saved the company from receivership, but creditors are shocked by the new entity’s decision not to pay its debts

8th May, 2010

The deal that saw McConnells Advertising transfer to internationally owned DDFH&B left many creditors dumb founded.

Even though there had been speculation for months about the health of the once-iconic Irish agency, the speed of the deal was surprising. However, the fact that McConnells’ creditors were told that debts would not be honoured proved shocking.

The deal with DDFH&B was a ‘pre-pack’ receivership, which is an agreement to sell the business before...

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