Law firm Dillon Eustace has acted for the investment consortium that helped a group of investors to lead Irish-headquartered company Compu b Ltd out of a five-month examinership process.
The investors were advised by Jamie Ensor (pictured), partner in Dillon Eustace’s insolvency and corporate recovery practice, with support from Lorcan Tiernan, partner and head of the firm’s corporate and M&A team.
In June, the High Court appointed David O’Connor of BDO as examiner to Compu b, a reseller of Apple computer products.
Though historically profitable, the company had been affected by a number of factors, including the impact of COVID-19.
A rescue scheme for the company was approved this week, after evidence showing that the companies had a good prospect of survival if certain conditions, including implementation of a restructuring programme, were 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, registered offices at Ballymount, Dublin, and three UK-based companies, Compu b Ltd, Stormfront Retail Limited and Stormfront Technology Ltd. It also owns Compu b Retail Ltd (CBRL).
Compu b has been taken forward by Digital Boutique Group Limited, an e-commerce agency.