The closure date for Shamrock Apparel has been deferred until September 12th to allow SIPTU to seek a buyer for the company's Dublin plant and also to explore the possibility of a management buy-out. The plant, which is located in Coolock and employs 91 people, was due to close next Friday. Yesterday, SIPTU regional secretary, Mr Jack Nash said that, following 10 hours of discussions, the company had agreed to allow more time to seek alternatives and also to give improved terms for the workers being let go. "The company's decision to close had not been due to lack of orders or as a result of poor industrial relations," Mr Nash said. "It was taken purely on financial grounds.

"Through dialogue, we have received a commitment from the company that it will co-operate in every way possible to assist in turning the situation around and will assist any new venture."

He added that the first the union knew of the proposed closure was the "shock announcement" last week. This was the first opportunity the union had had to discuss the situation with the company.

Shamrock Apparel is a knitwear business owned by the Hong Kong-based Fang Brothers group. KPMG is assisting management to handle the closure.

Plant manager, Mr John Keoghane said the company was happy it had been able to avert the closure to allow alternatives to be examined. Another source said it would allow a "breathing space" for unions and local management to try to put an alternative deal together.

The source said that, although the company depended on the Hong Kong company for orders, in recent years local management had begun sourcing work from other firms.

It is understood that everyone, including suppliers and employees, will be paid in full. Management sources said the company had been losing substantial monies for several years. One senior source estimated it at up to £15 million.