Wednesday 22 November 2017

Rescue deal for shoe stores saves 68 jobs

Carl Scarpa on Grafton Street, Dublin.
Carl Scarpa on Grafton Street, Dublin.

THE High Court has approved a rescue plan for footwear and fashion retailer Carl Scarpa, that will see 19 of the chain's 21 outlets continue to trade.

The deal allowing the business to exit examinership means 68 out of 80 jobs will be saved. Two shops, in Blanchardstown, Dublin, and Belfast have been closed, while 12 workers have been made redundant.

It is understood the rescue plans include around €600,000 of new investment. The chain has been in examinership since October, when CS Calzature Ltd and Carl Scarpa (Grafton Street) Ltd, the companies behind the Carl Scarpa name in Ireland and UK, were granted the protection of the courts.

Yesterday, Ms Justice Mary Finlay Geoghegan approved the rescue scheme.

The companies will formally exit the examinership process later this month.

Irish Independent

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