Best Menswear will exit examinership on Friday, November 13th. 130 retail jobs have been saved after the approval of the examiners scheme in court. Best fell into examinership in July of this year as part of the fallout from the Clerys closure. Best are one of many concessions who are owed money by OCS Operations Ltd which ran the department store. The figure is approximated of being between €1.5 – €2million.
Best said that the closure of their Clerys concession placed an enormous strain on company cash flow. Almost all Best Menswear stores will continue to trade and no indications have been given about store closures. Best have stores in pinnacle retail centres including Dundrum Town Centre, Liffey Valley, Blanchardstown and Swords.
MD of Best, David Jones said ‘We are delighted to be set to successfully exit examinership on Friday. The process has facilitated Best Menswear reaching agreements with our creditors and, together with the adoption of a range of cost control measures, we now look forward to a bright future’.