Iceland Ireland operator claims UK parent ‘swept’ significant funds

Employee told court Iceland staff had been victims of ‘a devious series of events’ following Project Point acquisition

Metron’s claims concern alleged transactions which took place in the lead up to the sale of the shares to Project Point Technologies Limited in February. Picture: Leah Farrell /

The company behind Iceland’s Irish operation has alleged that significant sums of money were paid to its UK counterpart earlier this year which would have been available to pay creditors, the High Court has heard.

The allegations, which are strongly denied by Iceland UK, were made in a letter sent last week by Metron Stores Limited, a company in examinership which operates the Irish franchise of Iceland stores.

Metron alleges that the company was not ...