Irish fashion chain A-Wear has fallen into receivership with closures across its store portfolio “inevitable”.
The troubled chain appointed Ken Fennell of Kavanagh Fennell as receiver to the business, blaming high rents and increased competition for its problems. A-Wear has been trying to restructure since it went into the process of examinership on October 8.
The retailer’s 31 stores will continue to trade while the feasibility of the units is assessed. However, Fennell said the closure of some stores is “inevitable”.
The Dublin based business employs 358 staff including 117 full time staff. The chain’s website is currently offline, citing “unforseen circumstances”.
A-Wear was bought by investment group Jesta last year after it was placed into receivership by Hilco.
In October it went into examinership. At the time the retailer said it had suffered from decreasing footfall and its survival will depend on negotiating low rents with landlords.