Top Irish Fashion Retailer has Gone Into Receivership

Fashion retailer A|Wear has gone into receivership. It is expected that at least some its 31 Irish outlets and 9 British concessions will close. 30 of the Irish outlets are in the Republic of Ireland with one in Northern Ireland. The chain has been in the examinership process since October as they tried to secure jobs and restructure the company. According to Today FM:

All A-wear stores have been closed by Receiver who'll decide tonight which stores will reopen tomorrow. Spokesperson says it a bad situation — Today FM News (@TodayFMNews) November 28, 2013

This morning, Ken Fennell of Kavanagh Fennell was appointed as receiver to the chain. An unnamed “secured charge holder” appointed the receiver. According to The Irish Times, a statement by Kavanagh Fennell indicated that the receiver will be taking a close look at the chain and will be assessing the feasibility of “some of the stores” over the coming days. It added that it is “inevitable” that some of the stores will have to close their doors. A|Wear currently employs 358 staff and its head office is based on Grafton Street, Dublin. Main image via A|Wear