ONE INSURER has paid out “millions” to Superquinn creditors who lost out when the supermarket chain was placed in receivership.

Superquinn’s 900 suppliers lost an estimated €25 million to €30 million of the €55 million due to them when a group of banks placed the business in receivership shortly before agreeing to sell it to franchise operator and wholesaler Musgrave.

A number of suppliers had credit insurance, covering them against potential losses for goods supplied to customers who were subsequently unable to pay. One credit insurer, Atradius Ireland, said yesterday that it has paid out “millions” of euro to Superquinn suppliers since the receivership and sale.

A spokesman confirmed it has satisfied all valid claims it received from businesses owed money by the supermarket chain.

He said the company has paid out on “all claims where they have received the appropriate information from the claimants”.

Atradius Ireland refused to say how much it had paid out or how many claims it had settled on the grounds of client confidentiality.

The company is one of a small number of credit insurers operating in the Republic. It had a number of Superquinn suppliers on its books.