‘Strong grounds’ for Iceland Ireland operator to claim back assets ‘swept’ by UK parent

Owner of the Irish supermarket chain has sought a hearing on the ‘substantial disappearance of company property’

The company which runs the Iceland supermarket franchise in the Republic of Ireland has been placed into examinership. Picture: Getty

There are “strong grounds” for the UK parent branch of Iceland to be asked to return assets it allegedly “swept” from its Irish supermarket business before selling it to a franchisee for €1 in February, an insolvency expert has said.

Myles Kirby, of Dublin-based Kirby Healy Chartered Accountants, claimed in a report provided to the High Court that “there are strong grounds” for the owners of the Irish franchise to “seek the return of all ...