One of Dublin's oldest department stores, Frawley's in the Liberties, is to shut down with the loss of 40 jobs.
Management at the inner city institution, which has been a part and parcel of life on Thomas Street since 1892, told employees yesterday that the company planned to cease trading within the next three months.
There were tearful scenes on Thomas Street as news of the closure spread. Emotional staff - some who had worked at the shop for almost 40 years - were comforted by stall holders whose business, in part, depends on the passing trade drawn by Frawley's.
The store was opened by Cornelius and Bridget Frawley 115 years ago to offer bargains to the poor. The business passed to their nephew, Cornelius Lee, and was then run by his two sons, Jack and James.
When they retired in 1987 the store was bought by Pascal Taggart and John Clohisey. It has been managed by Seán McEvoy for 20 years.
Frawley's employs 40 staff and occupies numbers 34 to 36 on Thomas Street. Its estimated worth is approximately €10 million.
Management blamed a downturn in business due to a "dramatic change in the retail pattern" for its closure.
Mr McEvoy told The Irish Times that business had been hit by changes in the city.
"There are multiple facilities now on the outskirts of the city, that's where people go now. I'm due to retire this year and wanted to be in a position to hand it on, but that is not to be," he said.
"This company will close down, but not with any clouds hanging over it. We're a team, the management and staff, if we weren't we wouldn't have got this far."
He said no firm date had been set for the closure as there were issues to be dealt with, but the aim was to close within three months.
Customers were also shocked to hear of the closure. Mary Buckley, a regular customer, said she would miss the bargains at the store. "It's great for kids' clothes and big clothes, I'll be sorry to see it go," she said.
Anne Ryan, shopping with her granddaughter, said it would be hard to find a shop in the city with staff like Frawley's.
"It's an old-fashioned place with old-fashioned bargains," she said.
Local resident, Geraldine McNaughton, said the store would be a great loss to the area.
"They do everything you could need . . .they're part of the street. Where will we go now?"