A-WEAR FG MOVES INTO RETAIL

irish examiner logo 390x285px 1 1 - A-WEAR FG MOVES INTO RETAIL

460 jobs saved as A-Wear bought …

The former Brown Thomas-owned company — which operates 32 stores in the Republic — went into receivership on Wednesday evening, with Jim Luby of McStay Luby being appointed receiver, by the firm’s most recent owners, British investment firm, Hilco. However yesterday Mr Luby reached agreement to sell the A-Wear business to a group of international investors, led by British businessman Michael Flacks of the Flacks Group, which specialises in the purchase of distressed assets. All A-Wear stores will remain open for business and will continue to trade as normal; with the company’s suppliers — most of whom are based in the Far East — set to be contacted over the coming days. In a statement, Michael Flacks said he had been “highly impressed” by the strength of the A-Wear brand. The chain’s shops will remain open as normal while the takeover led by a British businessman is finalised. In a statement, the company said the move would protect the jobs of 460 full and part-time staff in 32 stores.

see more: irishexaminer.com

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