Devika: Irish tale of troubled retail

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According to Irish market watchers, Sigma Group’s mobile retail arm, 3G Mobile, was destined for the dustbin. Its demise has been widely predicted for the last 18 months.

Its financial difficulties, which has allegedly seen Meteor work closely with it to see it through in the past, have been exacerbated by the tough economic climate. And certainly its ability to find a route out of trouble has been compromised by the recession.

So, another 150 staff from 27 stores are on the unemployment list. 3G Mobile enjoyed prime retail space on Ireland’s high streets – one for others to benchmark against.

This is why both Meteor and, according to sources in the Irish channel, Phones 4U looked over its books.

Phones 4U has been, for some time, interested in opening up its estate in the Irish market. But its astute financial team will have balked in the first instance at the rents on these sites.

The estate will of course go for cheaper if the business goes bust. Expect to see some other mobile brand crop up in its place.

 

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