Colm Dolan and Nicholas O'Dwyer of Grant Thornton are set to be appointed liquidators of Theya Lingerie Ltd at a creditors meeting on 23 January 2022.

The company called in O’Dwyer as Process Adviser under the Small Companies Administrative Rescue Process (SCARP) on 14 November 2022.

However, efforts to devise a rescue plan failed, and O’Dwyer resigned from the Process Adviser role on December 22.

Creditors who wish to participate in the meeting by electronic means can email securemail@ beauchamps.ie before 4pm on January 22 and indicate that they wish to be sent dial in details of how they may participate in the meeting.

Theya Lingerie Ltd trades as Theya Healthcare and is a specialist in post-surgery lingerie, designed primarily for use by breast cancer patients.

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Founder Ciara Donlon started the business in 2015 and in 2017 was an award winner at the Cartier Women’s Initiative Awards.

The company last filed accounts are for 2019, when the end-year deficit in shareholders’ funds was €750,000. Equity invested was €1.1m and start-up losses amounted to €1.6m, after Theya Lingerie booked a net loss of €430,000 in 2009.

Total liabilities in December 2019, excluding redeemable and convertible shares, amounted to c.€600,000.

The accounts filing notes that in April 2020 the company raised €500,000 from The University of Vermont Health Network Ventures Inc, a medical impact fund based in Vermont.

Photo: Ciara Donlon, founder of Theya Lingerie Ltd