QVC, the US online clothing retailer, has announced it will close all its stores in Ireland and the UK.
The company said it will have to close its Dublin and Limerick stores on December 31, 2018.
“We are moving to an environment in which the growth and success of our business depends on our ability to continue to operate in a secure, reliable and competitive environment, which is why we are making this announcement,” said QVC Chief Executive Officer Tom Miller.
“It is a challenging time for all of us, and it is the right thing to do.”
The company, based in the US, has seen sales slide from around £40 billion in 2020 to around £23 billion in 2019.
Miller said the company’s focus has been on diversifying its businesses in Ireland to meet consumer demand, and will now focus on bringing in new customers in the UK and Ireland.
A QVC spokesperson said the move will not affect any existing customers.
There will be no impact on any QVC-owned and operated stores, or on current QVC and partner locations in the United States, Canada and Ireland, or any plans to expand overseas.
In Ireland, QVC has 519 stores, of which more than a third are in Dublin and around 200 in Limerick.
QVC also has a number of other stores in England, Wales and Scotland.
Its biggest UK store, The National in Leeds, is closing its doors in 2019 and will be replaced by another QVC outlet.
The chain will also close its Belfast, Co Londonderry and Belfast-based stores.
Last month, it also announced that it will not expand its stores further in Ireland, which has a population of just over 1.3 million.
However, in October, the company announced plans to create two new stores in the Republic.
It said the plans were subject to approval from the Government and the European Commission.
Read more: QVCA-QVC deal: Londondomans say they will stay in Ireland in new Brexit deal (Reuters)