150 job losses at 4-Home stores

SOME 150 jobs have been lost with the closure of seven 4-Home DIY and homeware stores countrywide in recent months.

Stores at Killarney and Ballincollig were shut last weekend following the earlier closure of outlets at Portlaoise, Carlow, Monaghan, Ashbourne and Macroom.

Fears have arisen about the future of two further stores at Fermoy and Mitchelstown as part of a major restructuring by Reox Holdings, the Dairygold Co-op spin off company.

Dairygold and Reox are engaged in ongoing discussions about the possible acquisition by the co-op of some of the remaining nine 4-Home stores in Munster.

Reox announced earlier this year it was reviewing the performance of each of its stores in light of the ongoing difficulties in the sector due to the economic downturn.

A company spokesman said the recession had resulted in significantly lower consumer confidence and available discretionary spend.

This had resulted in a marked reduction in demand for home improvement products, he said.

Reox announced at the time that management would make decisions on the longer-term viability of stores.

The job losses in Reox have added to the economic woes in the retail sector as the recession continues to force the closure of many stores and shops.

Central Statistics Office figures show that home-related sales have suffered huge drops over the past year.