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06/03/2002
Jobs shock follows news of Rocca Tiles closure
Around 50 jobs are in jeopardy following the announcement by Rocca Tiles that it has closed all nine of its stores across the Republic of Ireland.
The news of the closures came on Tuesday 5 March, as Rocca Tiles and its partner company, Tilebusters ceased trading from their outlets, and it is now thought that the company could soon be put into liquidation.
A well-known and firmly established brand name in the furnishings market, Rocca Tiles operated as a family-owned business up until 2000, when the Rocca family sold both the majority of Rocca Tiles and Tilebusters to Linfen Ltd, retaining a 20 per cent stake in the businesses.
However, during the past 22 months, the firms have not prospered under new management, and the Rocca family have expressed their concerns about the lack of adequate financial transparency from the other board directors, which caused their board representative, Martin Ferris of Ferris and Associates, to resign in May 2001.
The Rocca family has now initiated legal proceedings against various directors of Linfen.
(CL)
The news of the closures came on Tuesday 5 March, as Rocca Tiles and its partner company, Tilebusters ceased trading from their outlets, and it is now thought that the company could soon be put into liquidation.
A well-known and firmly established brand name in the furnishings market, Rocca Tiles operated as a family-owned business up until 2000, when the Rocca family sold both the majority of Rocca Tiles and Tilebusters to Linfen Ltd, retaining a 20 per cent stake in the businesses.
However, during the past 22 months, the firms have not prospered under new management, and the Rocca family have expressed their concerns about the lack of adequate financial transparency from the other board directors, which caused their board representative, Martin Ferris of Ferris and Associates, to resign in May 2001.
The Rocca family has now initiated legal proceedings against various directors of Linfen.
(CL)
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