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OVER 600 JOBS have been saved after the High Court approved an examiner’s recommendations for B&Q Ireland to continue trading at its eight stores across the country.
Under the scheme approved today, the home improvement retailer’s parent company Kingfisher is to invest €2.4 million which will ensure the retention of 640 jobs.
Significant losses forced B&Q to seek an examiner at the end of January in a bid to rescue the business. The rescue plan does involve the closure of its store in Waterford with 47 jobs lost.
“There is huge regret that the Waterford store was not viable, but, for the rest of the business, we look confidently forward to a sustainable future,” B&Q Ireland chairman Brian Mooney said.
The agreement sees four other stores, which B&Q said were also under threat including a premises in Athlone, saved with Mooney adding: “We are more committed than ever to our operations in Ireland, and our loyal customers and employees.”
Reacting to the news, Retail Excellence Ireland (REI) said that in exiting the examinership process, B&Q had set a precedent for international brands trading here regarding upward only rent reviews and getting rents lowered if the viability of the tenant’s business is under threat.
REI’s chief executive, David Fitzsimons, said: “The development is most interesting for international retailers with parent company guarantees as precedent has now been set indicating that leases can be renegotiated even with a parent company guarantee in place.”
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Delighted. Haven’t a clue about DIY but always find the staff in B & Q very friendly. Also like the fact they employ a lot of older staff, an age group which generally would not be considered for recruitment with other companies!
Starting to feel a bit like a leper here living in Waterford. Nothing but blow after blow and everyone is trying to avoid us.
Even if the rent was reduced to €0 Waterford store would still be making a loss. It is to far out from the city. No matter what way you go to it you would of met at least another diy store on the way.
Thing is, not all of us live in the city so having such a good diy store on the outskirts made it a great choice, for me personally anyways. And it actually was the first one I would get to coming off the by-pass. Will miss it.
Wouldn’t agree Henry. It was ideally located with great staff.
Upward only rent reviews, what a ridiculous idea. Kick it out ASAP
Not with the majority of the both houses of the oireachtas having property of some sort to rent and most of their main supporters having property also why wouldn’t they want upward only rent reviews. This little country of ours is never going to change with the same shower getting in year after year. Isn’t it about time we changed the number of times or length of time these guys can be politicians.
Great news!
Makes sense about the waterford shop though, waterford is notorious for being the laziest county in the country.
Great news yes, but at the end of the day it’s another multinational UK based clone. Unfortunately, our Irish equivalent didn’t make it, Atlantic Homecare. I know B&Q provides jobs to locals, but when the worst of this recession cycle is over, and the casualty count is totalled, the Irish chains will be hit the hardest.
francie wait till waterford thomas francis maher or reggie towers c ur comment.but i agree wateford people are lazy ive been workin in the city for yrs.and all they do is moan
Atlantic Homecare did make it out of examinership last year and merged with Woodies DIY soon afterwards.
http://www.kildare-nationalist.ie/2012/09/17/court-approves-atlantic-homecare-survival-plan/
Thomas is off fighting for israel he should be along later
Francie that’s a very generalised statement to make about a whole county.
Frankly I have to disagree. Waterford work there ass of look at the successful festivals they run, look how well they did both times the tall ships were here.
Yes some people moan but you know what when every time you look at the news and its another shop or business in your city being closed it is very disheartening.
Your comment is no better than saying that all Kilkenny people care about is hurling. You can not generalise a whole county.
At the end of the day here. There are 47 people from the southeast (not every person in the store is necessarily from Waterford) have lost their jobs. Which is a hit to the southeast as a whole which suffers higher than average unemployment.
Atlantic Homecare shut down a huge store in Limerick. Thanks for the update. I didn’t realise they merged with Woodies.
Waterford is the oldest & 5th biggest city in the state. Home to major Co’s such as Bausch & Lomb & Genzyme. Obviously you know more than them. #chipontheshoulderknowingwaterfordisbetterthanwhereyouarefrom.
5th biggest in a country with 5 cities
Waterford needs a big investment to grow and be the 5th city we can be proud of. Would help by removing road tolls and developing rail and port
Karen it is also a well known fact that all kilkenny people do care about is hurling.
Thomasfrancismeagher, you sir are a deluded fool, i would hold dublin or cork in much higher regard any day over waterford, yes to be fair 10% of the county are probably hard working honest people but the other 10% are lazy and the other 80% are travellers ripping of the first 10%.
Francie you obviously don’t spend much time in either county. I work in Kilkenny and you would actually be surprised the amount of people who really couldn’t give a rays arse about Kilkenny.
There is no denying the fact that Waterford IS the oldest county in the country which is steeped in history. And where you are obviously just pulling figures out of the sky there. The unemployment rate in Waterford is circa 20% therefore the other 80% are either in work or in education.
It might do you well to come visit our wonderful city and meet the hard working people before you start speaking out of your arse.
You seem to know an awful lot about Waterford care to tell us a bit about where your from.
Ah here karen, this conversation is obviously gone way over your head love. I am obviously much more intelligent and in the know than you are regarding waterford and I don’t see the point in continuing this conversation and having to dumb it down for you to comprehend it.
No need to be so patronising. You obviously just can’t back up your so called “facts” about Waterford people being lazy. Your unwillingness to discuss where your from also indicates to me that you obviously aren’t that proud of where you are from.
There is no need for dumbing down I fully understand that you are speaking through your arse and obviously don’t know as much about Waterford as you are letting on.
The way this conversation has gone you have made an unfounded claim that all Waterford people are lazy, I refuted that claim, you came back with made up pie in the sky figures you claim are “facts” I refuted these as unfounded and gave you actual figures regarding the number of people not working in the county and your response was to attack my intelligence.
To be honest your full of shit and not going to waste any more time having a discussion with someone who makes up figures and using there opinion of the county as a so called “fact”. When you can find hard evidence with documentation to back it up that Waterford people are lazy come back to me.
Francis McNally, I’ve seen some AIB ignorant, downright stupid statements on the Journal, but yours takes the prize. Where are you from yourself?
Mick Daly – it is the oldest City. And the proudest.
Francie, stop digging or you’ll end up in Australia. Your Neanderthal, obviously clueless comments speak volumes regarding your own “intelligence”. IQ in the minuses I’d say.
I already live in australia Eamon and have several friends from waterford who are lazy, they reckon they are pretty good workers and as good as any to come out of waterford.
I am not goin to even entertain your comment karen, for a reason please refer to my previous comment, i also to not appreciate the obscene language you used in your reply which is why i never even bothered to read it all, only people with low IQ need to resort to foul language to get your point across. Which is typical of a waterford person
Sensitive much Francie. I do not have to resort to foul language and if you class that as foul language than you really just live in your own little bubble.
The fact that you can’t actually respond to any question you’re asked and have to resort to attacking my intelligence doesn’t say an awful lot for your own intelligence.
For your information there is nothing low about my IQ, I have an honors degree in business studies, I’m a qualified chartered accountant, I have received awards for my hard work in college especially the work I did to raise money for charity. From studying in the city and integrating myself in clubs and societies in college I met many hard working helpful people in that time.
Obviously you just like to surround yourself with lazy friends doesn’t really say a whole lot for you. You can’t judge a whole county based on your handful of lazy friends because I have plenty of friends and family from the city that I was born in and they are all very hard working people and let nothing stand in there way.
A bit rich from someone who card TF Meagher above “a deluded fool” Francie. I asked you where you’re from – not where you’re residing.
You accuse people of being lazy – and yet cannot properly capitalise your own username. Your comments smack of the “no dogs or Irish” mentality prevalent in bygone days.
Instead of having compassion for people losing their jobs you use it as an opportunity to jeer them. I feel great compassion for you with a mentality like that.
It really does say it all about your IQ.
You are all attacking my intelligence here, but you don’t seem to be smart enough to realize I have been taking the piss the whole time here, I have only ever met two or three people from waterford in my whole life and they where lovely people, but I have managed to wind you people up with minimal effort or “troll” you as the kids call it, are you relatively new to the internet? It was so easy that i have become bored with it which is ironic because that is why I started it in the first place, thank you for briefly entertaining me with your stupidity, I wish you the very best of luck in your future endeavors.
P.S. Eamon, pointing out that someone did not capitalize their username is not a good point, the other way was taken, you are a dick for thinking that was a clever remark. Melbourne abu
Ah, the refuge of the buffoon. “I was only joking/trolling/talking through my hole/the big boys made me do it”. Find socialising difficult I’d say Francie?
You are arguing with someone you don’t know who is on the other side of the world over the internet, have some dignity man, karen knew there was no point in continuing because it is pointless and fair play to her. Wise up Eamon, capitalized your name because i know you are fussy about that. No worries mate. :)
A breath of fresh air.
Two good news articles one after another. Keep ‘em coming!
Well done all. Now the banks turn. They know almost every house in the country give or take is down 50 % in value so get on with it! More money in the economy growth jobs . We have as a nation already paid the banks for these losses .
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