The new owners of the Arnotts Group in Dublin have announced the closure of Boyers department store with the loss of up to 83 jobs.
Fitzwilliam Finance Partners, led by property developer Noel Smyth, said in a statement the store will close in January 2016 “following an orderly wind down”.
Boyers employs 48 people directly and up to 35 others through concession arrangements.
The company said: “Every effort will be made to assist all staff find alternative employment and external support will be provided as required.”
It added that potential operators were sought to trade both Arnotts and Boyers, however, there was no expression of interest in trading Boyers.
Following the closure, Fitzwilliam said it will seek to sell the property, which is based at 19-22 North Earl Street, Dublin 1.
Last month, the Competition and Consumer Protection Commission approved the outright purchase of the Arnotts department store in Dublin by Fitzwilliam.
Earlier this year, the group won a battle with US rival group Apollo for control of the landmark Dublin store and reached an agreement to buy Apollo’s 50% stake.
Arnotts department store will not be impacted by the decision.
Commenting on the announcement, Managing Director of Fitzwilliam Finance Partners Noel Smyth said: "The decision to close Boyers early next year is very regrettable but unfortunately, was unavoidable.
“We are absolutely committed to dealing with this development in a sensitive and respectful manner for all those concerned. We are also committed to paying impacted colleagues the redundancy terms agreed with their union representatives,” he added.
Mandate and SIPTU trade unions have said they will negotiate with the owner of Boyers on the wind down of the company.
Mandate Official, Jonathan Hogan, said: "The closure of the store is devastating news for the workforce. However, we welcome the commitment from the employer to sit down with the workers' unions to negotiate not only adequate redundancy terms but also, where possible, the redeployment of staff.”
