DIY chain B&Q Ireland has exited examinership saving over 600 jobs it was
announced today in the High Court. Fashion group Pamela Scott also exited
examinership, saving almost 140 jobs
A rescue plan provides for B&Q’s parent Kingfisher to invest more than €2.4m to
enable 8 outlets around the country to continue trading, where 640 are employed.
B&Q Ireland, which began operations in Ireland in 2002, has outlets in
Athlone, Cork, Galway, Limerick, Naas, and 3 in Dublin locations; Liffey Valley,
Swords, and Tallaght.
The firm had applied for the appointment of an examiner in January in a bid
to rescue the business which was loss-making.
The rescue plan provides for the closure of the Waterford outlet, which ceased
trading in May with the loss of 47 jobs.
Suppliers are getting 10% of the €3.3m due to them while B&Q’s parent
and associated group companies, will not receive any of the €22.4m due to them.
Twelve of the 24 Pamela Scott stores have exited the
Flairline Fashion, an Irish company dating from the
1970s, which owns the Pamela Scott, Richard Alan, Ashley Reeves and Lisa Perkins
franchises, said the 12 shops
Pamela Scott will remain open and all 137 jobs at the stores have been secured.
The company said that negotiations with its landlords have resulted in a 40%
reduction in overheads since 2007.
Check out our
, at a low annual charge of €25 - - if
you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to
support the service.