DUBLIN ELECTRICAL CHAIN store Peats World of Electronics has re-opened its doors today, just weeks after it had closed its eleven branches and announced plans to go into liquidiation.
The family-owned company said earlier this week that a “wave of goodwill” from customers and suppliers had allowed it to continue in business.
The flagship Parnell Street store re-opened this morning, selling stock from the stores which closed on 23 April at discounted prices. The store plans to re-establish itself with a lower cost base and a restructured business.
Chairman Ben Peat said it was an “emotional but good day”.
The phones have been hopping and people were queuing around the block well before we officially opened. We’ve been blown away by the positive reaction we’ve had from customers, staff and suppliers. The support we’ve received has been nothing short of phenomenal.
The company hopes that a successful re-launch in Parnell Street will lead to the re-opening of its other stores in Dublin.
“Clearly the Peat’s brand resonates with people and it’s great that we’re still in business after 78 years, and we plan to be around a lot longer,” said Ben Peat.
The Rathmines branch of the store is also due to open shortly. The company has been able to seek a petition to the High Court to enter into examinership, which will allow the business to resume trading.
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