The popular retail giant planned to expand into vacant units at the Dundrum Town Centre.
Penneys has announced that plans for an expansion at the Dundrum Town Centre have been put on hold in light of the global pandemic.
The retailer was in talks to take on two floors in the shopping centre, expanding into space previously occupied by the House of Fraser. It's understood that Penneys and Brown Thomas were in negotiations to split the space, however, discussions have been paused as a result of the current climate.
A spokesperson for the retailer said that all expenditure is being reviewed in the wake of Covid-19.
"Our current priority is to support our people and the business through this pandemic and we look forward to resuming business as usual as soon as possible once our stores re-open."
Having announced the closure of all Irish shops on March 18th, the retailer has also stopped placing new orders with suppliers. The popular fashion, beauty and lifestyle retailer, was hit with temporary closure orders after European governments have taken measures to shut down non-essential high-street shops. Trading under the name Primark outside of Ireland, the company is at risk of losing its top slot in the UK market due to its lack of a transactional website.
Priding itself on its "ability to adapt", the company hopes to be up and running again soon.