Fashion retailer A|wear has been placed into receivership
Ken Fennell of Kavanagh Fennell has been appointed as receiver to A|wear.
A|wear owner Latzur Limited had been in examinership since October.
The purpose of the examinership had been to re-structure A|wear to put the business on a sustainable footing and to protect as many jobs as possible. The company said in a statement that his had not happened.
“In the intervening weeks post examinership, sales projections for the business have not materialised and no viable investment proposal was forthcoming, leaving the business with no option but to seek the appointment of a receiver,” the company said.
The receiver will assess the feasibility of trading some of the stores over the coming days but it is inevitable that some stores will cease to trade.
A|wear has 31 retail locations in Ireland and 9 concession stores in the UK. The business employs 358 staff across its locations and head office which is based on Grafton Street, Dublin. There are 117 full-time staff and 241 part-time staff between all retail operations and the head office functions.