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Irisa to shut 20 standalone outlets in UK
07
Dec '11
Sun European Partners, the new private equity owners of Fashion Group Irisa, has announced closure of 20 of Irisa's 68 standalone outlets in UK, most of which are of plus-size specialist Ann Harvey.

This will result in job cut of over 100 employees who have been informed of the same.

Majority of the job cuts and store closures are likely to happen before Christmas.

Irisa is the new version of Alexon fashion group which was acquired by Sun European Partners out of administration in the end part of September. In November, the private equity partners appointed retail consultants Capa to help them carry out the review of High Street outlets.

As revealed by an Irisa spokesperson, Sun European Partners was raising its investment in online space and intended to add 31 new concessions in its departmental outlets by early 2012, thus taking the total number of concessions to 1,090. Debenhams and House of Fraser are included in the list of new concessions.

The spokesperson further stated that in spite of its plan to shut several outlets through March 2012, Irisa is trying to hold back as many retail employees as possible, as opening of several new concessions would intersect with closure of these outlets.

Irisa presently operates brands like Dash, Lazy Lu, Alexon, Eastex, Minuet Petite and Kaliko. Most of these brands have faced adverse trading situations this year.

Fibre2fashion News Desk - India


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