DUBLIN ELECTRICAL retailer Peats World of Electronics has reversed its decision to cease trading, has reopened one store and hopes to reopen three others, saving up to 37 jobs.

The company reopened its store in Rathmines yesterday and plans to shortly reopen three others – the flagship Peats store on Dublin’s Parnell Street and its stores at the Pavilions shopping centre, Swords, and at St Stephen’s Green.

The move came after the company secured High Court protection yesterday after presenting a petition seeking appointment of an examiner.

It had originally planned to seek liquidation.

Chairman Ben Peat said: “Earlier this month I believed that Peats had reached the end of the road as the changing marketplace and higher rents put unsustainable pressure on our business.”

He said reaction to the original decision to close the business was “phenomenal”.

“With an ongoing family involvement and some fresh investment, I intend to drive the business forward while retaining the ethos and character of the business that made it a household name in Dublin,” Mr Peat said.

Three generations of the Peat family have worked in the business, which was established originally in Parnell Street in 1934.