640 jobs at risk as EuroGiant goes into liquidation

Eva Osborne

Around 640 jobs in 20 counties are at risk as the company that operates the EuroGiant chain of discount stores has entered liquidation.

It announced the appointment of liquidators on Wednesday.

Stores are continuing to trade for the moment, but there are concerns for the 640 jobs in the 77 stores across Ireland.

A spokesperson for the company said rising costs and increased competition mean the business is no longer viable in its current form.

EuroGiant founder Charlie O'Loughlin said he is deeply sorry about the situation.

The Labour party is calling on EuroGiant to make information about the company's future available to staff as soon as possible.

Labour enterprise spokesperson, George Lawlor, said support services should be ready to step in if needed.

Speaking on Newstalk, he said: "We've very much in a wait and see process at the minute, but it looks pretty bleak.

"So, the State should be ready with all the resources available to assist the 640 workers. Give them access to all the services that they are entitled to at this time."

Business Journalist Emmet Oliver said it is a worrying development for high streets in Ireland.

"They struggled over Covid, they started to run up big losses. And since then they've found it hard to get supplies in and stock in from Asia and other places," he said.

"In other words, you can offer a discount offering, but can you get the actual goods from other parts of the world into the store? This seems to be what has tripped them up."

"There has been two insolvency experts appointed so the company seems to be officially gone into liquidation, but it still seems to be open. So, maybe there's some way it can be sort of revived in some form."