Fashion chain Zara plans expansion despite €3.2m losses last year

A €2.9 MILLION impairment of assets at the Irish arm of fashion chain Zara contributed to pre-tax losses more than doubling last year to €3.2m.

However, the directors state that they “plan to open further stores as soon as suitable opportunities arise”.

According to accounts filed with the Companies Office, Spanish-owned Za Clothing Ireland Ltd inc-urred the loss after revenues fell from €46.2m to €45.9m in the 12 months to the end of January 31.