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Dublin: 14 °C Monday 15 September, 2014

Carl Scarpa to exit examinership and save jobs but two stores will close

The Blanchardstown and Belfast stores will shut but 68 out of 80 at risk roles will remain.

Image: Doug Peters/EMPICS Entertainment/PA Imags

CARL SCARPA’S BLANCHARDSTOWN and Belfast stores will be closed as part of restructuring proposals but 19 of its 21 stores are to be saved.

The company went into examinership in October but have today announced that they have successfully exited the process and saved 68 jobs.

A total  of 17 of the company’s 21 stores are on the island of Ireland but two of these are to close.

The High Court have approved the plans which will see the loss of 12 staff out of a total 80 roles that were at risk.

The two stores that will be closed are described as “loss making” with the closures deemed “regrettable” by the company.

Carl Scarpa is the trading name of CS Calzature Ltd and Carl Scarpa (Grafton Street) and was placed under the examinership of  Tom Kavanagh just over two months ago.

As part of the process a new agreement was reached with creditors, revised lease terms were made with selected landlords and there was investment by existing and new investors.

All customer gift cards were honoured in full according to a spokesperson for the company.

Despite the job losses, the approval of the plans was welcomed by directors at the company:

We are very grateful to our customers, creditors and staff and to Ulster Bank and our landlords whose support has been instrumental in protecting so many jobs and stores. We regret any store closures or redundancies but we believe that the new investment secured leaves Carl Scarpa well positioned to grow store and job numbers in the years ahead.

The ladies fashion and shoe stores have been in existence since 1974 when it was first opened in Sligo.

Read: Examiner placed to Carl Scarpa clothing stores >

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