herald

Monday 23 October 2017

Zumo juice bars in crisis

The High Court has appointed an interim examiner to the firm that owns and operates Zumo Juice and Smoothie bars.

Justice John MacMenamin said he was satisfied to appoint chartered accountant Neil Hughes as interim examiner to Mediterranean Food and Wine Ltd, which operates the Zumo Juice and Smoothie bars.

The company, with a registered address at Mary Abbey, Capel Street, Dublin, said it was seeking the protection of the court from its creditors because it had become insolvent and was unable to pay its debts.

The court also heard that there was a petition pending to have the company wound up.

The company, which specialises in making fruit drinks and yoghurt from fresh ingredients, employs 60 people.

The Zumo bars operate under franchise agreements in 12 countries and is the largest juice smoothie chain in Europe.

Declan Murphy, for the company, said the firm blamed its difficulties on factors including the general economic downturn, difficulties over rental agreements it had entered into and the costs of a €4.5m buyout of one of the firm's shareholders in 2005.

hnews@herald.ie

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