Irish Fashion Company Bought Out by British Firm

25 October 2011 - Which Way to Pay

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Irish Fashion Company Bought Out by British Firm

The fashion retailer A|Wear has been acquired by the specialist British retial restructuring firm, Hilco. The Irish branch of the company has taken over. The financial particulars of the deal have not yet been publishes. A statement however has been issued in which A|Wear stated  that Hilco will provide ‘extended working capital facilities to A|Wear to facilitate the business’ financial needs.’

The fashion company first began trade throughout Ireland in the 1960s and currently has 39 sites in Ireland, as well as 3 in the UK. The business was owned by the Brown Thomas Group before it was bought by a team largely funded by Alchemy Partners, a private equity company based in London, who bought out the company in 2007.

Throughout the year ending in January 2010 the fashion firm reported losses of €6.2 million. This compares with the pre-tax profits reported in 2009 of €25.9 million. Total revenues for 2010 stood at €39.5 million. Hilco also recently bought HMV, the Canadian music retailer. The company has also worked extensively on retail structuring companies including Littlewoods, Habitat, Woolworths and Borders.

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