IRELAND: A-Wear falls into receivership, stores to close
Irish clothing retail chain A-Wear has fallen into receivership, with some of its stores set to close.
Ken Fennell of Kavanagh Fennell has been appointed receiver to the business, less than two months after Latzur Ltd, which trades as A-Wear, entered examinership.
Fennell said the initial examinership process was aimed at putting the business on "a sustainable footing", and protecting "as many jobs as possible".
Sales projections for the business in the intervening weeks, however, did not materialise, Fennell said, with "no viable investment proposal forthcoming".
The female fashion brand operates 31 stores across Ireland and nine concession stores in the UK. It employs around 358 staff across its locations.
Fennell said the business will continue to trade under receivership, but that it will "assess the feasibility of trading some of the stores over the coming days".
"It is inevitable that some stores will cease to trade," he added.
A-Wear was bought out of receivership last year, according to the Irish Examiner, with the then new owners managing to halve the fashion firm's losses to EUR2.5m. Nonetheless, it has continued to struggle amid rising competition.
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