Home > General > Forever 21 to close Irish operation

Forever 21 to close Irish operation

Written by Robert McHugh, on 9th Jan 2018. Posted in General

article headline

RTE has today reported that Fashion retailer Forever 21 has racked up losses of €44m in Ireland and has signalled its intention to close its only outlet here.  
  
According to the report, accounts filed before the end of the year show that Forever 21 had a pre-tax loss of €15m here in 2016, the most recent period for which results are available.   
  
The shop, in Dublin's Jervis Centre, opened in 2010 and was its first outlet in Europe. It had 82 employees at the end of 2016. 
  
The RTE report claims that Mandate Trade Union has criticised the company for refusing their workers the right to be represented by their trade union during the closure of the store. The union said €13m has been put aside to fund the closure of the Dublin outlet, some of which Mandate claims is to be set aside for redundancies.

However, the union said "it appears the company will only be imposing the minimum statutory redundancy of two weeks per year of service".
  
Source: www.businessworld.ie

More articles from General

image Description

2018 will be a busy year for sports betting

Read more
image Description

Bank of Ireland to extend partnership with SCSI

Read more
image Description

Dublin Port records third successive year of growth

Read more
image Description

What Makes a Good Ecommerce Website?

Read more
image Description

Irish Restaurants Awards launched for 2018

Read more