The High Court has appointed liquidators to the companies which operate the Irish discount chain EuroGiant, RTÉ reported today.
The chain, first established on Moore Street, Dublin in 1990, currently has 77 stores across the country, employing about 640 staff, whose jobs are now under threat.
Operators of the chain EuroGeneral Limited and Bushgrove Limited cited the impact of rising costs as the reason for the move.
Despite entering liquidation, the stores will remain open and continue trading while a review of the network takes place.
A spokesperson for EuroGiant said, “The company has today entered court-appointed liquidation.
“Rent and day-to-day operating expenses, along with increased competition in the retail sector,…