Why Is Argos Leaving Ireland? Argos To Close All Stores In Republic Of Ireland In June
by V Gomala
Updated Jan 20, 2023
Argos To Close All Stores In Republic Of Ireland In June
Argos owner Sainsbury's announced that it is to cease trading at all of its thirty-four Argos stores in the Republic of Ireland by 25th June, concluding that the investment needed to make its Irish division profitable is not viable.
Argos announced that in 5 months, its thirty-four stores nationwide would close their doors, and the staff would lose their jobs. The company did not put anyone forward for an interview today but released a comprehensive statement explaining why it lost faith in Ireland.
Why Is Argos Leaving Ireland?
With five hundred and eighty jobs to go, the general merchandise retailer revealed it would put forward an enhanced redundancy package for the workers who are affected during negotiations with the trade union Mandate, which represents retail workers in Ireland.
Argos said in a statement that it had "arrived at the decision to leave Ireland following a long period of careful consideration and a thorough review of its business and operations in the country. Argos concluded the investment required to develop and modernise the Irish part of its business was not viable and that the money would be better invested in other parts of its business."
Argos Could No Longer Compete In Ireland
It said the company had arrived at a decision after a long period of thorough consideration and a careful review of its business and operations in the country. The company had operated here since 1996 when it opened stores in Limerick and Dublin. The company informed its workforce that its retail outlet in Portlaoise will close on 6th May 6 with the one in St Stephen’s Green shopping centre, Dublin, closing a week later.
Why Argos Could No Longer Compete In Ireland?
Michael Meegan, the Mandate official, said the company shared figures with the union while closing other stores over the past year and a half that were bleak. It also highlighted some of the challenges the business was facing, which included the cost of doing business in Ireland and high rents and supply chain problems arising from Brexit.
Michael described the news that the entire thirty-four store chain was too close as a total shock to staff who was working with the firm for an average of 11-15 years.
The company stated it would engage with the union, which represents around half of the staff, about the closures and would "propose an enhanced redundancy package that goes well beyond its statutory obligations."
Argos Leaving Ireland
Talks between the union and retailer are due to start on January 30 and Argos Ireland operations manager Andy McClelland said, "We understand this is difficult news for our customers and colleagues. As with any major change to our business, we have not made this decision lightly and we are doing everything we can to support those impacted."
And Argos arrived at a decision to leave Ireland only after a long period of careful consideration and review.
Why Is Argos Leaving Ireland - FAQs
Argos arrived at the decision to leave Ireland following a long period of careful consideration and a thorough review of its business and operations in the country. Argos concluded the investment required to develop and modernize the Irish part of its business was not viable and that the money would be better invested in other parts of its business.
Michael Meegan, the Mandate official, said the company shared figures with the union while closing other stores over the past year and a half that were bleak. It also highlighted some of the challenges the business was facing, which included the cost of doing business in Ireland and high rents and supply chain problems arising from Brexit.
Argos announced that in 5 months, its thirty-four stores nationwide would close their doors, and the staff would lose their jobs.