Viability of 4HOME stores to be assessed

THE downturn in the economy has forced Munster DIY company 4HOME to look at the viability of its stores on a case-by-case basis.

The company, which employs more than 1,500 staff around the country, is in the middle of a stock liquidation sale in a number of stores, which has prompted speculation that it was facing closure.

However, a spokesman for owner Reox Holdings said that, while 4HOME was suffering the effects of the downturn, the company remained in business.

“Trading conditions are very poor,” the spokesman said. “Over the course of the last year, the impact on the recession has been very hard on the DIY sector ... Over recent months, a number of stores outside the Munster area have been closed, including Portlaoise, Carlow and Ashbourne, Co Meath.

“There was talk at its annual general meeting that the company should approach Dairygold about it resuming some engagement with the stores in Munster by buying them or taking them over.

“However... it is not something that can be easily achieved.

“We are looking at the each of the stores on a case-by-case basis.”

In 2006, Dairygold created Reox Holdings as a separate company.