Ten new investors have been found to secure the survival of the Cara pharmacy group.
The struggling group will exit examinership today, Monday, following a High Court approval for a scheme to save more than 150 jobs and make way for a €14million investment.
The group’s owners, husband and wife team Canice and Ramona Nicholas, of Dragon’s Den fame, are reportedly leaving under an employment termination agreement.
RTE News reports that Mr Justice Denis McDonald is set to examine a request made by the two directors to keep the terms of the agreement confidential.
The Cara group of pharmacies operates 13 pharmacies which are headquartered in Ballyshannon. An examiner was appointed to the group in September last year following an application from Elm Corporate Credit DAC, the largest creditor of Cara Pharmacy Group.