By Alan Healy
Fashion store Debenhams is to liquidate its operations in Ireland and close all its stores, including in Waterford's City Square Shopping Centre.
The company wrote to staff members in Ireland this morning saying will make an application for Debenhams Retail (Ireland) to be placed into liquidation under the Companies Act 2014. It is anticipated the application will be made and a Provisional Liquidator will be appointed next week.
"In these unprecedented times, Debenhams is having to make exceptionally difficult decisions," the company said in the letter.
"Unfortunately, our Irish business has had trading challenges which were exacerbated by the impact of Covid-19. In the UK, Debenhams has entered into administration in order to protect its business. Regrettably, due to the challenges facing Debenhams Retail (Ireland) Ltd, it is anticipated that an application will be made to appoint a liquidator to the Irish operations."
"As you know Debenhams has already suspended trading in the Republic of Ireland stores and we can confirm that these stores are not expected to reopen. "
"In ordinary circumstances, communication about this process would have been done face to face, however, due to the Pandemic you are receiving this message via email, and we apologise for that."
