Jobs secured after buyer found for A|wear

Some 460 jobs in the fashion chain A|wear have been secured after a buyer for the group was found.

A receiver was appointed to the retailer last night by previous owners Hilco, but today a deal was struck with a group of international investors headed by British businessman Michael Flacks of Flacks Group.

A spokesperson for the company said the sale will protect the jobs of 460 staff at the 32 stores in Ireland, which will continue to trade as normal.

"This acquisition is a very positive development for A|wear, its employees and customers," Mr Flacks said.

"My colleagues and I are here to develop and grow this business, not shrink it.

"A|wear has been operating in a challenging trading environment and needs investment and a new strategic direction.

"We see excellent potential to work with homegrown Irish designers, to develop the online side of the business and to grow the A|wear brand internationally."