One of Kilkenny city’s toy shops is at risk of closure this week following news that Byrnes World of Wonder has gone into receivership.
More than 70 jobs are on the line after the chain of book and toy stores went into receivership last Friday.
The Kilkenny store located on High Street next to the Town Hall, was closed for ‘stock-taking’ on Saturday last. However, it’s believed the stores were shut as owner, Jim Byrne addressed staff from all the stores in Carlow about the receivership process.
Two of the Enniscorthy businesses reopened on Monday and the other five reopened on Tuesday according to the receiver, Mr Blake Hughes who is seeking a buyer for the business.
The Byrne family business is based in Enniscorthy, Co Wexford, where three of its stores are located. The other four are in Wexford town, Gorey, Carlow and Kilkenny.
The receiver declined to say how much is owed by the Byrne group, but indicated that he is open to offers for the seven shops.
“The hope would be that everything will be done to keep as many of the stores as possible trading,” he said.
“It is too early to say what the prospects might be. The hope is to save the majority of the jobs but there are no guarantees.”
At the height of the boom, Byrne’s World of Wonder had 21 stores throughout Leinster and Co Waterford including a super store in the Springhill retail Park on the ringroad in Kilkenny. There were 350 people employed by the company and in 2006 had a turnover of €50 million.
A statement issued by the company this week said, “like all retailers, we have been operating in an environment of collapsing consumer demand and despite every effort, we have been unable to overcome this challenge,” said Byrne’s World of Wonder in a statement issued yesterday.
“We would like to thank all of our employees for their hard work and dedication over the past 35 years and also our suppliers and our customers.
“We will continue to work with the receiver over the coming weeks to ensure that as many jobs as possible are saved and all stores will continue to trade as normal during this period.”
