Superquinn announces closure of Dundalk store and 400 job cuts

Supermarket group Superquinn, today announced that in response to the current difficult trading environment, its Dundalk store is to close and 400 jobs are to be cut across the group.

Chairman of Superquinn Simon Burke announced the company’s position to colleagues today. It includes a redundancy scheme to reduce the 3,300 workforce by approximately 400 (which includes the closure of the Dundalk store) and a range of other measures which, if agreed, will significantly reduce costs.

“This programme is necessary to secure the future of our business and to protect almost 90% of the jobs in Superquinn,” said Simon Burke. “We are hoping to reach agreement with regard to the wide ranging measures with colleagues representatives over the coming weeks. These measures will provide Superquinn with a competitive trading base and avoid putting all of the jobs in Superquinn at risk. It breaks any retailer’s heart to close a store, but recent developments in cross-border shopping have left us with no alternative. It is our hope to avoid any other closures as part of the programme.”

Superquinn said it has opened formal negotiations with employees and their union representatives from today and intends that the Programme for Competitiveness and Change will be implemented as soon as possible.

Feargal Quinn opened his first shop in 1960, and so began a progression that has led to Superquinn owning nineteen large shops and nine Shopping Centres. The presence is mainly located in the Dublin area but includes shops in Kilkenny, Carlow, Clonmel, Dundalk, Waterford, and most recently, Limerick


Source : FinFacts
[tags : recession bankrupt collapse retrenchment financial news collapse stagnation economic slowdown financial collapse world recession global recession layoff job cut]