Company feeling the downturn pinch

The High Court has appointed an examiner to OBriens Irish Sandwich Bars, which employs 20 people directly and 800 indirectly in 85 franchised outlets in Ireland. The company has a total of 220 outlets in 13 countries worldwide. The court was told an unspecified number of the 85 stores in Ireland are to be closed be closed as part of proposals aimed at ensuring the survival of the company, which is The High Court has appointed an examiner to OBrien's Irish Sandwich Bars, which employs 20 people directly and 800 indirectly in 85 franchised outlets in Ireland. The company has a total of 220 outlets in 13 countries worldwide. The court was told an unspecified number of the 85 stores in Ireland are to be closed be closed as part of proposals aimed at ensuring the survival of the company, which is insolvent with debts of more than 4 million euro, including 3.4 million euro owed to Bank of Ireland. An independent accountant believed the company needed'surgery and, provided that was done, it has a reasonable prospect of survival as a going concern.