A RECEIVER HAS been appointed to fashion brand A|Wear after attempts to save the company through examinership failed.
The business confirmed in a statement that they had this morning appointed Ken Fennell of Kavanagh Fennell as receiver to the business.
A|wear had been trading under examinership since 8 October.
The company said the purpose of the examinership was to re-structure A|wear so as to put the business on a sustainable footing, and to protect as many jobs as possible.
However, post-examinership sales projections have not materialised and no viable investment proposal was forthcoming, leaving the business with no option but to seek the appointment of a receiver.
The business will continue to trade under receivership. However, the receiver will assess the viability of some of the stores over the coming days and, they say “it is inevitable that some stores will cease to trade”.
The receiver said in a statement that the plan was to sell the business as a going The Receiver will endeavour to sell the business as a going concern.
A|wear has 31 retail locations in Ireland and employs 358 staff across its locations and head office which is based on Grafton Street.