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sports chain

Elverys may not have to shed jobs following appointment of examiner, experts say

A rival UK group could buy the chain, and move existing jobs to ‘large format’ stores.

IT IS POSSIBLE that Elverys Sports may not have to impose job losses after an interim examiner was appointed yesterday, a retail expert has said.

Speaking to RTÉ’s Morning Ireland, Dublin Institute of Technology lecturer Damien O’Reilly said that one of the possible buyers of the chain may alter the company’s business model, redistributing staff.

It has been reported by Mike Ashley of the UK Sports Direct chain has expressed interest in bidding for Elverys.

“If he were to take over the Elverys group,” O’Reilly said, “there would not be necessarily any job losses.”

While stores would be closed down, other “larger format” stores may be opened.

Elverys Sports currently employs more than 600 staff in 56 stores.

RTÉ reports that the receivership came about due following a petition from NAMA, the company’s largest secured creditor. A planned receivership fell through, leading to the appointment of an examiner.

Read: This TD claims his bill could save thousands of jobs – and create thousands more >

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