MANDATE, the union representing staff of both department stores are expressing fears over the future of their members’ jobs.
Both stores have been held by IBRC and the Ulster Bank since 2010. Causing concerns, the Ulster Bank are currently considering selling their share of the debt after a number of restructuring firms have expressed interests.
John Douglas, Mandate General Secretary said:
‘Arnotts and Boyers workers have gone through a very painful and difficult five years. Nonetheless, they have worked with the current management to turn Arnotts and Boyers around in a very difficult retail environment, once again making Arnotts a unique and successful Irish retail brand.’
He added, ‘It would be a slap in the face to all Arnotts and Boyers workers if either IBRC or Ulster Bank were to merely try to maximise their return on their debt without any consideration of what is best for the workers now and into the future.’
It has been rumoured that Ulster Bank will make a decision on the sale this week.