A proposal by management of Elverys Sport to buy out the troubled company and save jobs has received the full support of Galway city councillors.
At the Galway City Council meeting on Monday a motion put forward by Cllr Michael Crowe and signed by 14 councillors was passed. The motion asked Galway City Council to call “on the Government to support the proposal of management to buy out Elverys. This is the only proposal currently that will preserve all the jobs and all stores”.
A group led by Elvery’s own managing director Patrick Rowland is just one of the parties which has expressed an interest in the Co Mayo business, which employs 700 people in 56 stores across the country including three stores in Galway city. Other interested parties are investment company Hilco, which is best known for buying and relaunching HMV, and investor Mike Ashley’s UK-based Sports Direct group. Simon Coyle, of Mazars, was appointed as examiner of Elverys on February 4 last with 100 days given to secure an investment plan.
Also urging the Government to step in and do all it can to secure the Elvery Sports jobs is Sinn Féin local election candidate for Galway City East, Mairéad Farrell.
Speaking this week, Ms Farrell said: “The examiner, Mr Simon Coyle of Mazars, has stated that his aim is ‘to protect the business at all costs with a particular focus on job security’. This must be the Government’s aim also and every support possible should be provided to encourage a new owner to retain the existing numbers of jobs under their current terms and conditions of employment.
“Elverys is a long established, efficient and well run business. It has a management team that is committed to the business and to its future. But it must also be noted that it has built that reputation on the back of the work of hundreds of staff. It’s important that the jobs, pay and terms and conditions of these staff are front and centre in any future resolution.”