Retail news round-up on October 29, 2015: Mothercare Ireland exits examinership and Pep&Co eyes 10 Northern Ireland stores.
Mothercare exits examinership in Ireland
The Irish franchise of UK baby products retailer Mothercare has confirmed it has successfully exited examinership, thus saving over 250 jobs.
Mothercare Ireland has said it will continue to trade at 15 stores countrywide but confirmed few store closures.
The chain is to close three outlets - two in Dublin at Blackrock and Jervis Street and one at Cruises Street in Limerick - where approximately 26 people are employed.
The company said the restructure had led to a 30% rent reduction across the group’s portfolio.
Pep&Co considers opening 10 shops in Northern Ireland
Clothing business Pep&Co is looking to open between five and 10 outlets in Northern Ireland.
The low-cost high street retailer, set up by ex-Asda boss Andy Bond, is eyeing 10 new sites across the Province, according to the Belfast Telegraph.
The clothing and homeware store have said they have not officially announced any further expansion plans, and maintain ’there are no current plans to open any stores in Northern Ireland in 2016.’
However, it is understood commercial property agents Savills has been hired to scout out new locations for the retailer in Northern Ireland, and throughout the UK as a whole.