Irish Fairy Door brand appoints adviser for restructuring plan under new examinership process

CEBL Ltd, the maker of wooden Irish fairy doors and associated products for children, has appointed an advisor to help restructure the business under the new “examinership light” process introduced by the Irish government to save small businesses that are potentially viable but insolvent. The company, which sells its products to customers in the US and abroad, first gained visibility after an appearance on The Late Late Toy Show in 2014 and has since been endorsed by famous personalities like Kourtney Kardashian and Paul O’Connell. The directors, backed by Enterprise Ireland, are confident that the Irish Fairy Door Company will emerge successfully from the Small Companies Administrative Rescue Process (Scarp) in a short time. The recent accounts reveal accumulated losses of €3.9 million at the end of 2020, and the company’s directors have appointed accountant Joe Walsh as its process advisor to formulate a rescue plan that may involve writing down debts. Walsh has 49 days from his appointment to finalize the scheme for creditors’ approval.