Atlantic Homecare in Examinership

mike65

Rents and footfall blamed. 5 stores likely to be closed if chain is to be rescued.

http://www.irishexaminer.com/breakingnews/ireland/atlantic-homecare-placed-into-examinership-554322.html

Interesting that fellow Grafton DIY/Garden outlets Woodies who have also suffered trade decline this year are not being linked to this. Still they are probably next in line.

Sleepy

I thought Atlantic and Woodies were owned by the same holding company?

mike65

They are, just listening to RTE, it seems Woodies have been supporting Atlantic and have decided to stop that.

Robbo

mike65 wrote: »

Rents and footfall blamed. 5 stores likely to be closed if chain is to be rescued.

http://www.irishexaminer.com/breakingnews/ireland/atlantic-homecare-placed-into-examinership-554322.html

Interesting that fellow Grafton DIY/Garden outlets Woodies who have also suffered trade decline this year are not being linked to this. Still they are probably next in line.

One of the attractions of the examinership process these days is the ability to tear up your existing leases.

antoobrien

mike65 wrote: »

Rents and footfall blamed. 5 stores likely to be closed if chain is to be rescued.

http://www.irishexaminer.com/breakingnews/ireland/atlantic-homecare-placed-into-examinership-554322.html

Interesting that fellow Grafton DIY/Garden outlets Woodies who have also suffered trade decline this year are not being linked to this. Still they are probably next in line.

Interesting that the AH in wellpark (Galway) is listed for closure, but the AH in coolock isn't (there's a woodies very nearby in both cases). The wellpark retail park must be really suffering from the traffic situation in the area.

mark360

This does not suprise me. Atlantic have been struggling for a long time. Woodies were slowly rebranding the stores until a few years ago.

ejmaztec

The government never did carry out their promise of sorting out the upwards only rent reviews because it was apparently too complicated. I suppose that pretty soon the problem will no longer arise, mainly because there will be no rent coming in on any commercial properties at all.

Delancey

Atlantic Homecare don't deserve to be in business - treat the customers like sh1t and when they complain they realise the management are 10 times worse than the staff.
I wouldn't buy a box of thumbtacks there.

jimmycrackcorm

Liffey valley is no surprise with B&Q next door.

Please do not mention public/private, that has nothing to do with this

delancey, this isn't R&R, please tone it down

thanks

TerrorFirmer

antoobrien wrote: »

Interesting that the AH in wellpark (Galway) is listed for closure, but the AH in coolock isn't (there's a woodies very nearby in both cases). The wellpark retail park must be really suffering from the traffic situation in the area.

The rent in Wellpark is astronomical. It's a shame really, as that store is twice as big as the other Woodies store down the road, which is horribly cramped. Not good for the retail center in general, as there's a lot of empty units already - Woodies going would leave a huge vacancy. There's a few more stores in the group but just the 5 being listed for closure, . 'Atlantic Homecare' in Galway is actually a Woodies store after changing over a few years ago, but is still AH on paper. So to the common public it's a Woodies store closing.

Delancey

It would seem that the primary reason to seek examinership in this instance is to break lease agreements , it's only as a result of a relatively recent court case that this can occur.
A friend put his company into liquidation about 3 years ago and over 100 staff lost their jobs - he had sought advice about Examinership but was told that re-negotiation of leases would not be an option ( his biggest issue was his rental costs ). A pity the recent judgement was not available to him.

Seth Brundle

Delancey wrote: »

Atlantic Homecare don't deserve to be in business - treat the customers like sh1t and when they complain they realise the management are 10 times worse than the staff.
I wouldn't buy a box of thumbtacks there.

In fairness, twice recently I've had to ask staff in the outlet in Liffey Valley for assistance and they were great - courteous and honest.
However, that they are located close to Woodies (and/or B&Q in recent years) was never going to help their business.

Sponge Bob

I could see Wellpark in Galway 'saved' at the last minute ( after a rent renegotiation) only for Woodies to go into examinership over the road.