Avoca is planning a further two-to-three new store openings in the next 24 months.

The new stores could deliver an additional 300 jobs to Avoca, which currently employs 970 people across a network of shops, food markets and cafés in 12 locations across the country.

New accounts for Avoca Handweavers Ltd, show restructuring costs of €4m - ahead of its €65m sale to US company, Aramark - resulted in the business recording a €1.7m pre-tax loss in the 11 months to early January last year. The bulk of the restructuring costs were made up of additional pension contributions to directors, who last year shared total contributions of €3.5m. The accounts show the business increased its revenues by 3% to €60m. EBITDA grew by 3.7% to €4.4m.