B&Q Ireland has said its Athlone store will likely remain open after it secured improved lease terms on the unit.

The company, which is currently in examinership, had previously said it would have to close its Athlone and Waterford outlets as they were not commercially viable.

However in a statement today the company said changes to its lease meant the Athlone store would now remain open, subject to a successful outcome to the examinership process.

The development does not affect the Waterford store, which is still scheduled to close on 4 May.

B&Q has nine outlets in Ireland and employs 190 full time and 500 part time staff.

It entered examinership in late January and said it would need to renegotiate its leases in order to have a “reasonable prospect of survival”.