FASHION RETAILER A|WEAR has been bought by a group of international investors, securing the future of close to 500 jobs in its Irish stores.

The chain’s shops will remain open as normal while the takeover led by a British businessman is finalised.

In a statement, the company said the move would protect the jobs of 460 full and part-time staff in 32 stores.

A receiver was appointed to A|wear last night, and the deal was struck today. The group of investors is led by Michael Flacks, the president of Flacks Group, who said A|wear had been “operating in a challenging trading environment” and needed “investment and a new strategic direction.”

“I have been highly impressed by the strength of the A|wear brand, its excellent standing as a leading fashion retailer in this market and its potential for future growth,” Flacks said. “My colleagues and I are here to develop and grow this business, not shrink it.”

He said the investors hoped to work with homegrown Irish designers, develop the company’s online store and expand the A|wear brand internationally.