The three Contacts of stores in Ireland to close at a cost of tens of jobs

  • The three Contacts of stores in Ireland to close at a cost of tens of jobs
    Independent.t. E.
    Three postscripts stores in Ireland among those that are designed to close as part of a cull by store owner, Hilco capital.
    https://www.independent.ie/business/irish/three-homebase-stores-in-ireland-to-close-costing-dozens-of-jobs-37215086.html
    https://www.independent.ie/incoming/article36945034.ece/e82b4/AUTOCROP/h342/01.jpg

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Three postscripts stores in Ireland among those that are designed to close as part of a cull by store owner, Hilco capital.

Two stores in Dublin – in Fonthill and the Naas road will be closed and access in Limerick. Stoppers are sure to hit dozens of jobs.

He has just 11 points in the Ireland, who use 380 full-and part-time employees.

Today she confirmed that it is closing a total of 42 shops within the company voluntary agreement (CVA) where he seeks approval from lenders to reduce the cost base in the UK and Ireland. The shops should be closed in the period from the end of this year and the beginning of 2019.

Homebase was ruined this year, the then Australian owner Wesfarmers, which acquired the chain in 2016 for £340 million (€380.6 m). On the disastrous move into the UK market by Wesfarmers did sell the chain for only £1 to Hilco capital.

Homebase was making a profit when it was acquired by Wesfarmers, but not now.

“After a comprehensive review, it had concluded that its current store portfolio is no longer viable,” the network said in a statement. “Lease expenses associated with stores are unsustainable, and many of the stores are unprofitable.”

He added: “the proposed changes to the shop, unfortunately, will mean layoffs of those shops are designed to close. The process is expected to lead to a reduction of 1500 roles, although every effort will be made to regroup the team members in the case where it is possible.”

“CVA allows Homebase to make substantial changes in your portfolio of store, reducing it costs and providing a stable platform for further rotation,” he said.

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