Ireland's Qualceram Shires seeks liquidation

DUBLIN, June 29 (Reuters) - Irish bathroom suite maker Qualceram Shires QLC.I said on Monday its examiner had found an investor for four of its subsidiaries but had not secured funding for the Plc itself which will seek liquidation.

Qualceram said in April it had called in the examiner to get protection from lenders, becoming a victim of the falling property market in Ireland and Britain. [ID:nL2218170]

"An investor ... will invest in four of the group's Irish operating entities," the company said in a statement.

"It is the investor's intention to continue to distribute group brands in the primary markets of Ireland and the United Kingdom."

It added however: "The examiner was unable to secure any funding for the Plc itself and, accordingly, will today apply to the High Court to seek the liquidation of Qualceram.

Meetings will be held with creditors but the liquidation process is highly unlikely to result in any distribution to shareholders, it said. (Reporting by Andras Gergely; Editing by David Holmes)