The company behind sports retailer Elverys Intersport has warned that it is more difficult to obtain bank finance and make acquisitions. That comes amid substantial pressure on retail despite the strong economy.
The company – West Roxbury Ltd – has just filed new accounts at the Companies Registration Office.
The accounts state that the business “operates in a cyclical industry and is affected by factors beyond the control of the company – for example the level of credit available from financial institutions”.
In a statement dated May 30 2018, the company’s directors said that “in common with all companies in Ireland operating in this sector, the company faces increasing difficulty in acquiring viable companies and obtaining bank finance”.
However the directors believe the business is “well-positioned to manage these problems”.
“The directors are optimistic as regards the future prospects for the company as a result of the upward trend in consumer sentiment coupled with an improvement in the general economic climate in Ireland,” the accounts state, adding…