EMPLOYMENT: More than 100 jobs are to go with the liquidation of a Co Louth refrigeration and air-conditioning company and the restructuring of mobile phone company O2 Ireland's retail business.
Thermal Heat Exchanges announced yesterday that it had gone into liquidation with the loss of 60 jobs in its Drogheda factory. It also announced that it had no money to pay staff wages. Earlier this year, 50 workers were laid off following a failed takeover bid.
The first phase of the restructuring at 02 Ireland will result in a reduction of 45 jobs in Dublin, Galway and Cork. The second phase includes a review of the group's 100-plus stores nationwide, in which 250 people are employed.
No further details of this review are expected until mid-June.
The headquarters of the group's retail businesses, Access Communications in Cork, Eire Communications in Galway, and Cellular World and O'Hagan Communications in Dublin will be closed, and combined into a new central headquarters in Blackrock, Co Dublin. Mr Brendan O'Hagan, founder of O'Hagan Communications, has been appointed managing director of 02 Retail.
