INM to wind down GrabOne unit
Independent News and Media PLC (INM) has announced the winding down of its coupon business GrabOne with the expected loss of 24 jobs.
Following an orderly wind down the business is expected to close by the end of the year.
Customers' unredeemed vouchers will continue to be honoured by traders, in line with the normal terms and conditions of the voucher.
Equally, any merchant who has a live deal, or who has a payment scheduled will be paid in full.
Independent News and Media will act as guarantor to GrabOne.
The decision was made for commercial reasons, INM said in a statement. Following the announcement, no further voucher offers or deals will be offered by the site.
Since the company was established in 2011, GrabOne has worked with 4,769 merchants, bringing 47,562 deals to Irish market, saving consumers a total of €60m.
INM is the publisher of the Irish Independent, Sunday Independent, Herald and independent.ie. The group employs around 1,000 staff across the island of Ireland.