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Roches Stores exits retail business

August 08, 2006 10:35
One of the best known names in the Irish retail business, Roches Stores, is to sell 10 of its 11 stores, though it will continue to own the properties. 90 jobs will go as a result of the move.
British department store chain Debenhams has confirmed that it will take over nine of the outlets in the Republic of Ireland. The stores are: Henry Street in Dublin; Blanchardstown; Blackrock; Tallaght; Patrick Street in Cork; Limerick; Tralee; Galway and Waterford. Debenhams is paying €29m for the stores’ assets, and will lease the properties from Roches.
Marks & Spencer has acquired the Roches outlet in the Wilton Shopping Centre just outside Cork City, while Roches’ home and gift store in Nutgrove in Dublin will close with the loss of 14 jobs. The company’s support office in Sandyford in Dublin will also shut with the loss of 77 buying and administrative jobs.
Roches, which employed 2,000 people at the 11 stores, says the remaining staff will transfer to Debenhams and Marks & Spencer.
Debenhams already has stores in Dublin, Cork and Newbridge. It plans to convert the new outlets over the next six to 12 months. The Wilton store will open in Spring 2007 and will be Marks & Spencer’s 15th in the Republic.
A statement from Roches Stores said the deal was subject to Competition Authority approval, but full transfer of the stores was expected by September 6. All stores will trade normally as Roches Stores up to this date.
It said its main aim was to sell the business as a going concern to protect the maximum number of jobs

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