Retention of jobs must be central consideration in sale of Arnotts debt – FF
22 November 2013
Fianna Fáil Spokesperson on Enterprise, Jobs and Innovation, Dara Calleary TD, has called on the IRBC to make the retention of 1,200 jobs at Arnotts a central consideration in its decision when assessing bids for the company’s debt.
Deputy Calleary was reacting to news this week that a number of groups are considering a bid for the Arnotts debt which stands at €230 million.
“Arnotts has loans worth €230 million with IRBC who are in the process of selling that debt. In considering bids for its debt, IBRC must make the retention of jobs at Arnotts a central element in its decision making process.
“Arnotts is one of the most iconic and easily recognisable Dublin retailers. It is an institution in the capital and every effort must be made to maintain its workforce and its brand. It is vitally important that the future of Arnotts is secured, if this can be achieved by retaining the existing workforce then this should be the option chosen. “I would urge IBRC to do their utmost to ensure the existing employment levels at Arnotts are protected when considering bids for its debt.”