FRUIT OF THE GLOOM: ONE-TIME PRESTIGIOUS DONEGAL COMPANY SHOWS LOSSES AGAIN

FRUIT of the Loom, the company which once employed 3,600 people in Ireland, a quarter of them in Donegal and Derry, has announced another loss.

The company, which still has a small base in Buncrana, says it lost €6.78M last year to add to its overall accumulated losses of €249M. 

FOL International, the name of the company, accounts show that the loss last year occurred after restructuring costs of €6.35m.

The last 650 local jobs were lost in 2004.

Revenues of the US company’s European operations dipped from €248.48m to €241.6m.

The €6.35m restructuring costs last year represented mainly redundancy payments due to Fruit of the Loom’s decision to exit the retail mass market business.

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