Iceland’s Republic of Ireland franchise owner has been placed into examinership as it seeks new investment.
The finanically troubled company was appointed an interim examiner by the Irish High Court as Metron Stores Ltd is insolvent and cannot pay estimated debts of £30.8m.
However, an independent Experts Report has said there is a chance of survival if steps are made, such as appointing an examiner, RTE reported.
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This comes as the firm, which has operated Iceland’s Ireland stores since March 2023, was ordered to withdraw all imported frozen food of animal origin by the Food Safety Authority of Ireland (FSAI).
It also asked Metron Stores to recall affected products and advise customers not to consume the items as there was “inadequate evidence of traceability” of imported frozen food, according to the BBC.
While there has been no reports of illness accociated with the undeclared food items, the FSAI said there were “breaches of food legislation and in the interest of consumer protection, this action has been taken”.
The frozen food retailers stores in Northern Ireland are still owned and operated by Iceland and are not impacted by the matters at Metron Stores.
