Store owners abandon staff overnight

Date Published: 25-Aug-2009

SEVERAL employees have lost their jobs at a city fashion store, after the operators dramatically abandoned the business overnight and ditched a rescue bid to save the company.

However, the majority of staff at the Born store in Newtownsmyth have had their jobs saved, after a local consortium pressed ahead with taking over the business.

The owner of building had been involved in negotiations with Gina and Rishi Malde – the retailers who leased the store – and was attempting to save the business with a ‘white knight’ takeover bid, as was revealed in last week’s Sentinel.

The talks broke down and the Maldes abandoned the premises, and attempted to remove stock in the early hours of Wednesday morning.

It is understood that developer John Curley, who owns the building, had been attempting to save the business and was engaged in talks which would have involved purchasing the title for €1.

Subsequently that situation changed dramatically, with the Maldes breaking the leasehold agreement on the premises and abandoning the business.

The business has since been …