Insolvency and Corporate RecoveryOctober 16, 2020

Dillon Eustace advises investors in Compu b through Examinership process

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Dillon Eustace, recently acted for the investment consortium that successfully assisted the investor group that led Irish-headquartered parent, Compu b Ltd out of its five-month Examinership process this week.

The investors were advised by Jamie Ensor, Partner in Dillon Eustace’s Insolvency and Corporate Recovery practice with support from Lorcan Tiernan, Partner and Head of Corporate & M&A.

In June 2020, the Irish High Court confirmed Examinership for Compu b, a reseller of Apple premium computer products and David O’Connor of BDO was appointed as Examiner. A rescue scheme for the company was approved this week, on foot of evidence showing the companies had a good prospect of survival if certain conditions, including implementation of a restructuring programme, were to be met. The High Court also noted the significant number of jobs at stake and the absence of objections to examinership.

Founded in 1992, Compu B has 395 employees, of which 110 are based in Ireland, and registered offices at Ballymount, Dublin, and three UK-based companies, Compu b Ltd, Stormfront Retail Limited and Stormfront Technology Ltd, and who owns Compu b Retail Ltd (CBRL). Compu B has been taken forward by Digital Boutique Group Limited, an e-commerce agency.

The company has historically been profitable but due to numerous negative impacts including Covid-19 resulted in underperformance, and the subsequent petition for Examinership.

Commenting, Jamie Ensor, Partner in Dillon Eustace’s Insolvency and Corporate Recovery practice said: “We were pleased to support the new owners of Compu b during its recent examinership and wish the team every success in its future endeavours.”