Denim brand Pepe’s Irish franchisee is to close its six stores, according to reports.
Pepe Ireland, which has six shops in the Republic of Ireland including the Dundrum shopping centre in Dublin, was been hit by increasing rents and slow sales. According to the Irish Times, the company’s sales are down 35% over the last two years.
The move will mean Pepe’s only retail presence in Ireland will be via concessions and it will not have any standalones in the country, it is understood. However, Pepe was unavailable for comment by the time of publication.
Pepe has stores in Dublin, Athlone, Drogheda, Dundalk, Killdare Village and Newbridge. The company will be forced to close the stores with the loss of 36 jobs.
According to the report, Dundrum is proposing a rent increase of up to 40% and other shopping centres are planning increases.
Pepe will continue to sell in Ireland via other outlets. It will also continue to operate a standalone in Belfast, Northern Ireland.