WITH a Limerick based outlet, Arramount Woodcraft (Holdings) Limited and its fully owned trading subsidiaries trading as Arramount Furniture confirmed that it has sought the appointment of an Interim Examiner, Mr Kieran Wallace of KPMG to allow the Company sufficient time to negotiate with potential investors and to complete appropriate arrangements with creditors with the objective of putting in place long term arrangements to secure its future.
Arramount Furniture was established in 1995 and is one of Ireland’s leading furniture stores. Arramount Furniture currently operates seven different stores nationwide in Dublin, Limerick, Cork, Newbridge, Tullamore, Athlone and Mullingar. All stores will continue to trade as normal throughout this period. The company’s current difficulties stem from the current economic downturn and reduced consumer demand. Management would like to confirm that all orders where deposits have been taken will be delivered and customers who place deposits during Examinership will receive their ordered furniture.
Lane Bros Ltd trading as Arramount Furniture Tralee, which is a franchisee of Arramount Woodcraft (Holdings) Ltd, will not be affected by the Examinership and will continue to trade as normal.
Arramount Furniture will continue to trade as normal throughout the period. The company is confident that the process of Examinership will enable a solution to be found that will ensure it is set up to continue trading successfully and profitably in the future. The process of Examinership in Ireland provides a standstill period of time whereby creditors cannot pursue claims against the Company. The company has sought this protection to allow it to put in place new refinancing arrangements for creditors and bankers.
Arramount Furniture is the trading name of Woodcraft (Holdings) Limited and its subsidiaries
Arramount Woodcraft (Limerick) Limited
Arramount Woodcraft (Cork) Limited
Arramount Woodcraft (Dublin) Limited
Arramount Woodcraft (Mullingar) Limited
Arramount Woodcraft (Newbridge) Limited
Arramount Athlone Limited
Arramount Distribution Limited
