• News

Interest confirmed in local BHT Group

Wednesday, 11th April, 2012 3:40pm

Story by Tom Kelly

There are a number of parties interested in the BHT group, which has its headquarters in Athlone, it has been confirmed this week.

The firm, which employs 80 people locally, was placed into examinership in February.

The High Court approved the appointment of an interim examiner - Kieran Wallace of KPMG - to the BHT group which operates Tubs and Tiles, Heatmerchants and Brooks.

The group has its head office, along with a Heatmerchants branch, on the Moydrum Road in Athlone. There is also a Tubs and Tiles branch on the Dublin Road.

This week Mr Wallace confirmed that there are interested parties in BHT, but would not say how many interested parties there are.

The examiner will now assess these interested parties to see if any of them are viable.

When the High Court approved the appointment of an examiner in February, it was informed that management restructuring proposals for the group include redundancies and branch closures.

The High Court gave the examiner 100 days in which to come up with a 'scheme of arrangement' for dealing with the company's creditors.

It was reported in the national media that the BHT Group has debts of €31.8 million, including €21.8 million to unsecured trade creditors.

In a statement issued to media at the time, the directors of BHT Group Ltd said: "A difficult trading environment in the construction and home improvement sectors during 2011 and at the start of 2012 has compelled the directors to seek the protection of the court under the examinership process.

The BHT group employs a total of 445 people across the country.

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