15 Oct 2020 | 12.40 pm
Pamela Scott To Shutter Twelve Stores
Up to 104 staff to lose this jobs
15 Oct 2020 | 12.40 pm
Covid-19 has claimed another high street casualty, with fashion retailer Pamela Scott closing half of its 24 stores.
The business stated that the closures are in response to changes in high-street trading, largely as a result of Covid 19.
The chain has begun a collective redundancy process that could see up to 104 staff of its total of 194 being laid off, though the company said the remaining 90 jobs can be saved.
In a statement the fashion chain said it is applying to the High Court to have KPMG restructuring experts Eamonn Richardson and Ian Barrett appointed as joint provisional liquidators to Arzac Developments Ltd and Richard Alan Co. Ltd.
Not involved in the restructuring process is Flairline Fashions Ltd, parent company of Richard Alan & Co and Arzac Developments, which had turnover of €20.4m in 2017/18. In August 2018, the Flairline Fashions balance sheet showed total liabilities of €7.2m, including €3m owed to shareholders. Negative net worth at year-end was €3.2m.
Managing director Richard Barron said: “It is devastating to have to close shops and in particular to have to say goodbye to so many of our employees, some of whom have been working for Pamela Scott for decades. Extraordinary times require extraordinary measures and we feel this is the very best way of protecting not just one of Ireland’s oldest and largest fashion chains but the livelihoods of our remaining 90 employees.
“When it comes to high-street retailing in general, and fashion in particular, you have to adapt or face extinction. Pamela Scott has repeatedly adapted both to changing customer tastes and to changing market conditions. We are confident that this restructuring will allow us to continue to bring the very best of Irish and international fashion to our Irish customer base for many years to come.”
The 12 shops being closed are Grafton Street, Frascati Centre, Swords and Blanchardstown in Dublin and Cork City, Limerick Crescent, Tralee, Carlow, Sligo, Dundalk, Gorey and Nenagh.
The shops at Clonmel, Mullingar, Castlebar, Waterford, Newbridge, Wexford, Ennis, Letterkenny, Middleton, Athlone, Navan, Kilkenny, as well as the company’s online business, pamelascott.com, will be unaffected.
The retailer’s website notes that since 1970 Pamela Scott has been present in the mind of stylish women looking for trends, accessible styles and fashionable must-have items.
“Pamela Scott is part of a successful family business. Driven by our passion and expertise, we navigate in an ever-changing fashion world with confidence, style and flair in response to our customers’ needs.
“Across all ladies departments and ranges, Pamela Scott offers something for all ages and this is reflected in our unique offering of both our own-brands (Twist, Zapara and Sophie B) as well as the hugely popular designer brands such as Gerry Weber, Joseph Ribkoff, Salsa Jeans and Betty Barclay.
“We also stock exclusive occasion and eveningwear dresses for Weddings, Debs and Black-Tie events. Our trademark is a vibrant and accessible approach to fashion for every woman of every age.”
The retailer added that gift vouchers, credit notes, loyalty cards and deposits will be unaffected by the closures regardless of where the vouchers were purchased.
Photo: Happier days from 2017 when Pamela Scott showcased its garments during the Dublin Fashion Festival. (Pic: RollingNews.ie)