10 A-Wear stores likely to reopen
Published 03/12/2013 | 17:02
Up to 10 A-Wear stores are being lined up for reopening, receivers have said.
The troubled fashion chain was closed last week before four stores were allowed to continue trading in Blanchardstown, Dundrum and Grafton Street in Dublin and in Sligo.
The receiver Ken Fennell, of Kavanagh Fennell, said he was working to have another five or six stores back in business by next week.
No decision has been made on which stores will open.
The receiver has also pledged to honour gift cards and vouchers issued during the period of examinership process from October 8. Customers will be allowed to use them up to Christmas Eve.
It was suggested back in October that A-Wear would need to close 11 stores in order to survive.
It had 117 full-time and 241 part-time staff at 31 stores across Ireland, nine concession stores in larger stores in the United Kingdom, and a head office on Dublin's Grafton Street.
High rents were blamed for the company's failings but it has also been through a slew of takeovers since it was sold by the Brown Thomas department store in a management buyout in 2007 and the recession hit.
Since then the owners have included Hilco Capital, which bought HMV, the Jesta Group in partnership with businessman Michael Flacks and more recently Canadian businessman Jack Stein. Its parent company is Latzur Limited.