Kingfisher, the owner of B&Q and Screwfix, has put its
B&Q Irish arm into a rescue process in a bid to keep the business going.
According to a report in the Telegraph, Kingfisher has applied through the
courts to put its nine large stores in the Republic of Ireland into
examinership, a process similar to going into administration in the UK. The
piece notes that the Irish stores, which currently employ around 690 people,
have been hit by the country’s economic downturn and fall in consumer spending
in the housing sector and as a result Kingfisher needs to close four of its
stores in Ireland with the relevant leases needing to be exited.
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