Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Barrys of Mallow, the Cork-based cash & carry, has announced plans to invest up to 60 million euro in 40 new Costcutter stores in 2007, creating up to 600 new jobs.
Over the past ten months, the company has opened 34 new Costcutter stores around Ireland, creating 500 new jobs.
'To date this year, both Barrys and our retailers have made a combined investment of 50 million euros into the development of the business', said Jim Barry, chief executive of Barrys of Mallow.
'Normally, the timescale is from 6 to 12 months due the timeframe associated with the project management of the opening of new stores and planning laws.'
Barrys of Mallow was established in 1955. The company employs just over 200 people directly. An estimated 3,000 full-time and part-time staff are employed by the 200 stores in its Costcutter and Quikpick franchise chains.
Its turnover to the end of January 2007 is expected to be in the region of 570 million euro.
Last year, the company opened a new 10 million euro 60,000 square foot chilled and frozen food distribution centre in Mallow.
In July, it acquired the business of Kilkenny Wholesale Cash &Carry in a deal valued at between 1.5 and 2 million euro.
Eurofound (2006), Barry's, Business expansion in Ireland, factsheet number 64293, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64293.