A|wear will continue to trade as normal in its store in Tullamore following its acquisition by a group of international investors, headed by British businessman Michael Flacks of Flacks Group.

Jim Luby of McStay Luby was appointed as Receiver to A|wear by previous owners Hilco and reached agreement with the international group of investors to sell the business.

The transaction will protect the jobs of the four employees in the Tullamore store.

There are 460 full and part-time staff in the 32 A|wear stores in the Republic of Ireland.

The deal secures the long term viability of the A|wear business and ensures that shoppers in Offaly can continue to enjoy the A|wear product offering.

Michael Flacks, President and CEO of Flacks Group said, “This acquisition is a very positive development for A|wear, its employees and customers. 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. My colleagues and I are here to develop and grow this business, not shrink it. A|wear has been operating in a challenging trading environment and needs investment and a new strategic direction.

“We see excellent potential to work with homegrown Irish designers, to develop the online side of the business and to grow the A|wear brand internationally. We have a strong team and significant financial support from our new ownership structure, which also brings with it vast international retail expertise and experience. We look forward to working with the management team and staff at A|wear and its suppliers – we have a common goal and look forward to delivering on the potential that lies ahead.”

Launched just over one month ago, Hireland yesterday confirmed that the initiative has already received over 2,500 job pledges from businesses all over the country. This is all the more impressive as Hireland had set a 6 month target of 5,000 pledges and is now at the halfway point after little more than a month.

As of yesterday (Tuesday February 21), 589 companies have pledged jobs across a wide range of sectors from software design and development to engineering and pharmaceuticals to sales, marketing and retail and hotel, hospitality and sports leisure.

Furthermore, there has been a swift translation from pledges to jobs with 150 having commenced jobs already that were pledged on Hireland.ie. By recruiting more people into the business, a company will experience immediate and direct benefits. It lets customers know they can expect a better service, staff will be rewarded with a greater division of labour and enhanced output and it also sends a strong message to competitors by investing in the business.

Hireland is a volunteer, not-for-profit group that has developed a national communications initiative to encourage employers to hire one of the thousands of skilled people who are currently out of work. It came about in February 2011 after a kitchen table conversation between a group of friends, who had lost other friends to emigration. Since then, it has grown to include students and people from the business, marketing and media community, all of whom have given their time and skills for free simply because they want to see the creation of jobs for the thousands of unemployed skilled workers in Ireland.

Hireland wants to draw on the power of the collective and act as a catalyst to stimulate job creation. It’s about a positive, confident movement, where one job will lead to another if Irish businesses get on board and pledge a job.

Even though Hireland only officially launched last month, it has already inspired a sister initiative in the United States of America, UhireUS which was announced at the Clinton Global Initiative in New York in September 2011.

CALLS have been made for a six month rate exemption for new businesses starting up in Tullamore.

Cllr Molly Buckley put forward the motion to the February meeting of Tullamore Town Council calling for the exemption. “Every day we are seeing businesses closing. The heart of the town is going out of it. We have to look at this for new businesses, on a phased basis.”

Supporting Cllr Buckley’s motion, Cllr Tony McCormack suggested that it it could be done on an incremental basis.

“Businesses are suffering badly particularly in the town centre. Anything, we can do to create an atmosphere. It is an extra cost for them. Unfortunately, it is part of our funding basis and the issue will have to be looked at nationally. We need to do something to get business into the town. We have to start somewhere.”

Cllr Buckley pointed out, “We want to get the heart back into the town.” Ruth McNally, SEO of Tullamore Town Council, explained that there are national regulations, set in law, governing the issue of rates.

However, she said that she has spoken with other Town Clerks on the issue and there appears to be a business incentives schemes working in some towns, which could go some way to help businesses. “However, in terms of just deciding to wave it [rates], it can’t just be done.”

Cllr Buckley proposed that the Council should look at this business incentive scheme. “It is worth exploring it for the businesses in the town,” she said.

The Chairman of the ICMSA Taxation Committee, Mr. Lorcan McCabe, has stated that although Finance Bill 2012 provided for a number of welcome incentives announced in Budget 2012, he believed it was a missed opportunity in terms of addressing some anomalies in the taxation system that weren’t addressed in Budget 2012.

While Mr Mc Cabe welcomed the fact that Minister Noonan exempted from Capital Gains Tax those compensation payments to turf cutters for giving up the right to cut turf in Special Areas of Conservation, he observed that a similar exemption should be extended to individuals wishing to purchase land close to their holdings in order to consolidate their farm enterprise.

He stated that current Government policy is effectively penalizing any farmer wishing to consolidate his/her holdings in order to grow and expand their business.

ICMSA believes that Capital Gains Tax Rollover Relief should be introduced on a limited basis to allow for farm consolidation and parcel swaps for individuals wishing to expand their enterprise.

ICMSA believes that it is crucial that full-time farmers wishing to enlarge their holding to grow their farm business into a viable unit must be allowed to do so with the minimum application of Stamp Duty and he expressed his disappointment that the Finance Bill did not reintroduce Farm Consolidation Stamp Duty Relief.

Proposals in the Finance Bill to offset the increased costs of the Carbon Tax have been described as insufficient and unworkable.

IFA President John Bryan commented, “There was a clear commitment given in the Programme for Government that farm diesel would be exempt from any further increases in the Carbon Tax. This has not been honoured, and the proposals for a double income tax deduction for farmers arising from the increased costs will not give full cost recovery.”

IFA has developed proposals to allow for a full recovery of the cost increase through point-of-sale deduction and through a direct refund for VAT registered farmers. The proposals must be included before the Act is finalised.

Commenting on other elements of the Finance Bill, Mr Bryan continued, “The proposals to strengthen the enforcement role for the Revenue Commissioners to combat illegal fuel trade are positive. IFA has argued strongly that the existing marker system for Agricultural Diesel must be retained and strengthened and these proposals support our position.”

He continued, “The proposed limitation of the enhanced stock relief to Milk Production Partnerships only is unfair and discriminates against partnerships operating across other farming enterprises. All registered farm partnerships should be able to avail of this additional relief.

“The Carbon Tax is simply an increased cost on agricultural production. IFA is looking for Government to honour its commitment to farmers and ensure that costs arising from the increase can be fully recovered and in a simple manner,” he concluded.

Tom Doyle has been elected Chairman of the IFA National Farm Business Committee. He succeeds James Kane, who has completed his four-year term.

He is a livestock and tillage farmer from Gorey, Co Wexford.

Mr Doyle said his priorities on taking over as Chairman are to ensure there is equitable treatment for farmers in the taxation system and the availability of credit for the agriculture sector. In particular, he re-iterated IFA’s opposition to any proposals to include productive assets when assessing eligibility for 3rd-level education grants.

He identified his first task as IFA’s submission to the Department of Finance ahead of the publication of the Finance Bill next month.

Tom Doyle said he would be highlighting bank credit issues, including access to credit at competitive rates for farm customers, and the need for banks to deal constructively with credit difficulties.