The Frontline

Back from the Brink

A little bit of good news last week. Irish retailer Peats World of Electronics has reversed its decision to cease trading, reopened one store on Saturday and hopes to reopen three others, potentially saving 37 jobs. We’ve heard a lot over the last few years about debt forgiveness for homeowners. But it’s something already happening for business with examinership, and under order of the High Court. An increasing number of companies from Peat’s to Eircom are choosing this route to survive. All well and good if the process saves jobs, but with the banks and revenue at the top of the list of preferred creditors to be paid - will it always be the little guy who gets burnt? Do debt write-downs or restructuring cost jobs for the lesser-preferred creditors? How do we balance giving a business a second chance with the potential cost to someone else?

Some of those joining us tonight include Dragon and entrepreneur Bobby Kerr, business owner Glenna Lynch, survivors of the process and some of those who have been “burnt”

Do join us at 22.35 RTÉ One