The coronavirus pandemic has had a devastating impact on fashion retail. In April, UK retailers Debenhams, Cath Kidston and Laura Ashley went into administration, all blaming the “extraordinary challenges” of business under Covid-19.
Controversial restructuring tactics, including company voluntary arrangements, have helped some retailers to survive by slimming down their store estates across the UK, although this has not always been enough: Oasis and Warehouse Group ceased trading entirely on 30 April, after administrators failed to find a buyer.
The travails of these UK retailers have hit Ireland’s high street hard. Instead of launching an examinership process – the equivalent of UK administration – and downsizing their Irish store portfolios, UK retailers are deciding to wind down or liquidate their businesses altogether.
Many retailers have simply been pushed over the edge
Arnold Dillon, Retail Ireland
On 16 April, the Irish High Court appointed provisional liquidators to the Irish
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