Andrew Carey
THE closure of one of Limerick’s best known family businesses’, was the saddest day in the life of Ivan Cremins, but as workers stage a sit-in at the store, he has assured them that they will receive their entitlements.
Ivan’s shop ceased trading on Sunday January 19 after 38 years in business.
In a statement issued this evening, Mr Cremins, Founder and Managing Director of the business, said that he and his family “are devastated by the sad turn of events”.
He went on to explain that “whilst trading conditions had been extremely difficult for some time, that the pressures that necessitated eventual closure last Sunday were sudden and unplanned”.
The Cremins family particularly regretted the shock and inconvenience that this had caused to the staff at Ivan’s, many of whom had long years of service.
“They can be assured, and have been assured, that they will receive all their entitlements and the necessary arrangements are being made to put this in place” according to Me Cremins.
The business was among the largest independent private sector employers on the North side of Limerick city.
For many years, Ivan’s was also one of Irelands leading, family owned, destination food stores and delicatessen.
However, the business environment changed considerably over recent years with: the opening of three major supermarkets each within 500 yards of Ivan’s; the development of the Limerick ring road which by-passed Caherdavin; an aging population in its immediate catchment area; the repeal of the law banning below cost selling and finally the worst economic downturn that the country has seen.
In the midst of all this numerous efforts were made to recalibrate the business to match the new environment. Unfortunately, this was not sufficient to ensure its survival.
“Ivan’s of Caherdavin was, for 38 years, a family owned business and its staff and customers were part of that extended family” said Ivan Cremins who went on to thank all their loyal customers of different generations, as well as their staff and suppliers who had worked with them and supported them over those years.
He concluded by saying that “Sunday January 19 was the saddest day of my life”.
The Directors are in discussions with their bankers to establish the most appropriate way to bring an orderly conclusion to the affairs of the company.
