Hughes & Hughes was officially placed in liquidation at a creditors meeting in Dublin yesterday with Kieran Wallace of KPMG appointed as liquidator.
The Irish Times carries a full report:
Employees (who are ranked as preferential creditors) are owed €250,000, while employment-related taxes of €148,000 are also due. Almost €560,000 is owed in local authority rates.
More than €6.4 million is owed to the chain’s numerous unsecured creditors. Within this category, the Dublin Airport Authority – the former landlord of the chain’s outlets in the capital’s airport – is one of the largest creditors, being owed almost €690,000.
The largest unsecured creditors include many well-known book publishers and distributors. Penguin Books Ltd is owed more than €300,000; Harper Collins more than €256,000; and Eason Menzies Distribution in excess of €296,000. Independent book wholesaler Argosy is due about €150,000.
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