Dublin: Ireland’s leading retailer, Argos, is closing down. Due to the collapse of trade caused by the influx of international online companies such as Amazon, the owners of Argos, on which the Irish public has relied for years, have decided to close the store.
Argos stated in a company statement that the investment required to develop and modernise its Irish business was not feasible and that the money would be better invested in other areas of its business.
As a result of the decision, 34 Argos stores in Ireland will close.
The closure will result in the loss of 580 jobs. By the end of June this year, the company plans to close all stores and operations in the Republic of Ireland. “An enhanced redundancy package will be proposed to employees who lose their jobs,” the company said. “Smaller colleagues who are not eligible for redundancy under Irish law are expected to receive a one-off goodwill payment,” it added.
The company said the decision was reached after a long period of careful deliberation and a comprehensive review of its other businesses and operations in the country.
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