Northern Ireland

Harry Corry: Furnishing retailer agrees store rent reductions

The retailer Harry Corry has reached an agreement with creditors which will reduce rent on some of its stores.

Original proposals could have led to the closure of eight outlets, but the soft furnishing business has now said just one is under threat.

Negotiations are continuing over its store at Auldhouse Park in Glasgow. The company is hopeful it will remain open.

Director Willie Corry said if that is not the case, staff will be relocated to other Glasgow stores.

Mr Corry said the company reached a voluntary arrangement with its creditors on 1 May.

Part of the proposal was for a 20% rent reduction at Valley Retail Park for a period of 24 months.

Harry Corry has 17 stores in Northern Ireland, 22 in the Republic of Ireland and the rest in Scotland.

Its last set of accounts for the year ended February 2014 showed a turnover of over £38m and a pre-tax loss of £364,000.

The business employs around 580 staff.

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