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11/03/2005
Around 200 textile jobs under threat at Adria
Around 200 jobs are at risk at one of Northern Ireland's biggest textile companies, it emerged late on Thursday.
Strabane-based Adria said that faced with a 25% drop in sales during the first quarter of 2005, around 200 of its 790 strong workforce could be made redundant.
In a statement on Thursday the company said it had experienced a “dramatic” reduction in turnover which would “unfortunately” have a major impact on the profitability of the company across the full financial year's trading.
"This has resulted in the management initiating an urgent review of its business to enable it to return the company to profit,” the statement read. “It is anticipated that job losses would be a regrettable but necessary part of the process.”
Adria manufactures ladies', men's and children's hosiery products in Northern Ireland as well as in Turkey, Italy and Colombia.
The company is one of the largest hosiery suppliers to Marks and Spencer in the UK and to the Victoria's Secret brand in North America.
(MB/SP)
Strabane-based Adria said that faced with a 25% drop in sales during the first quarter of 2005, around 200 of its 790 strong workforce could be made redundant.
In a statement on Thursday the company said it had experienced a “dramatic” reduction in turnover which would “unfortunately” have a major impact on the profitability of the company across the full financial year's trading.
"This has resulted in the management initiating an urgent review of its business to enable it to return the company to profit,” the statement read. “It is anticipated that job losses would be a regrettable but necessary part of the process.”
Adria manufactures ladies', men's and children's hosiery products in Northern Ireland as well as in Turkey, Italy and Colombia.
The company is one of the largest hosiery suppliers to Marks and Spencer in the UK and to the Victoria's Secret brand in North America.
(MB/SP)
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