Over 200 jobs lost as Principles goes into liquidation

Over 200 Irish retail jobs were lost today after a liquidator was appointed to the Irish subsidiary of fashion chain Principles.

The High Court today approved the appointment of David Carson of Deloitte as provisional liquidator to Principles Retail Ireland Limited (PRIL).

PRIL is a subsidiary of the UK company, Principles Retail Limited, part of the Mosaic Fashions Group which went into administration on March 2.

"Principles employs 216 staff across 32 outlets in the Republic of Ireland," said a statement. "All employees have been made redundant today. A number of staff will be retained on a day-to-day basis to assist in the orderly wind down of the business. The liquidator will assess all available options over the coming days."

Staff representatives were informed of the move in a series of briefings this afternoon.

Mandate trade union expressed anger at the announcement.

"The way in which employees in Principles were informed that they had lost their jobs is nothing short of disgraceful," Mandate Assistant General Secretary Linda Tanham said

"Yesterday Mandate called on the company to open communication channels with their staff members in order to inform them what was taking place in the company and yet today the liquidator arrives into stores at 2pm to announce the liquidation of the company."

“It is inconceivable why Principles management, as the employer, could not inform their own staff members of their future. Instead Deloitte, who is acting as liquidator to the company, sent representatives to the stores to tell staff members what was happening.

"This is grossly insensitive and shows shocking disregard for workers who have families depending on incomes from the store."