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Elverys Sports enters interim examinership

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An interim examiner has been appointed to Elverys Sports by the High Court, it has emerged.

The company employs 654 people across 56 stores nationwide, which includes an outlet in Longford town.

Staunton Sports, which owns Elverys, has backed the move by NAMA-owned company National Asset Loan Management Ltd for an interim examiner to be appointed to the company.

NAMA is Elverys’ largest secured creditor, owing €23 million and stg£250,000, and with loan facilities due.

It is understood NAMA believe Elverys has a good chance of continuing as a going concern, with two rival bidders - a consortium of the existing management and UK sports equipment chain Sports Direct - preparing offers to buy the company.

Mr Justice Brian McGovern appointed Simon Coyle of Mazars as interim examiner, initially for the next six days, and the hearing of the petition has been set for Tuesday, February 18.

 

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