New outlets for Elverys after €20m write-down

Creditors hit with losses of €130k during restructuring

12th June, 2016

Elverys, the Irish sporting goods chain which was saved in a high-wire corporate rescue in 2014, is set to open new outlets in Dublin and Cork after receiving a massive debt write-down of almost €20 million during its examinership.

Company documents filed last week show that the company’s bankers wrote off over €18 million, with a rent and service charge of €1.8 million also written off. Creditors were forced to walk away from almost €130,000 in...

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