Atlantic Homecare plan approved

The High Court has approved a rescue plan for DIY chain Atlantic Homecare, which means good news for its Cork store at Pouladuff which had been expected to close. The DIY chain store is part of the Grafton Group and the court was told that the examinership had resulted in a positive outcome. This will mean fewer job losses and a fresh investment of €5.7m has been secured as well.

This examinership will end on Friday and two stores will close in Limerick and Newbridge with a loss of 44 jobs. The store was placed in examinership in June following an application by the company to the High Court in Dublin.

Atlantic had been making a loss since 2007 the accumulation of which had reached in excess of €21m. The five stores that had been flagged for closure are Pouladuff in Cork, Liffey Valley in Dublin, Newbridge in Kildare, Childers Road in Limerick and Wellpark in Galway but it is now expected that the Cork, Dublin and Galway stores will remain open and 70 jobs will be saved as a result.