A|wear to expand into the UK

A|wear has announced plans to invest more than €10m in an expansion into the UK market.

The company plans three new stores in the UK by October 2008, and says plans are advanced to secure a number of other locations in 2009.

The three initial stores will be located at the new Highcross Development in Leicester, Cabot Circus, another in Bristol and a third in the north west. Seventy new jobs will be created.

A|wear, has been established in Ireland for more than 30 years. In 2007, it recorded an annual turnover of €64m and EBITDA of €10.5m.There are 25 stores in the Republic and two in the North.

In 2007, A|wear, was the subject of a successful management buy-out when the existing management, with the support of Alchemy Partners, the UK-based private equity firm, acquired the company for €75m.