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Awear is sold to Hilco

IRISH fashion retailer Awear has been sold to a UK group called Hilco, which specialises in distressed restructurings.

Awear was sold by Brown Thomas in 2007 for a reported €70m to a consortium comprising UK private equity group Alchemy Partners and management, who took a 20pc stake in the business.

Latest accounts for Maple Topco Ltd, Awear's parent company, show revenues declined to €44.8m in the year to the end of January 2010 from €58.1m in the previous 12 months.