Tag Archives: investor
All Clery
at
Seventy-one years after it was taken over by Kerryman Denis Guiney and his family, the famous Clerys department store in Dublin was acquired by a US company yesterday.
The takeover safeguards almost 350 jobs at the O’Connell Street store, which will continue to trade as normal.
Yay!
However, its sister shop, Guineys on Dublin’s Talbot Street, and the Clerys home furnishing stores in Leopardstown and Naas, have been closed with the loss of 29 jobs.
Ah, knickers.
Boston-based private equity group Gordon Brothers acquired Clery & Co (1941) plc through a subsidiary called OCS Investment Holdings.
Meet you under the OCS Investment Holdings clock, so.
350 Clerys jobs saved in US takeover but Guineys closes (Kierán Hancock, Irish Times)
(Sasko Lazarov/Photocall Ireland)
This just in from the Guardian’s Lisa O’Carroll: the tragic tale of the Dublin property investor who claims he’s being screwed because he didn’t borrow enough…
Few taxpayers have a shred of sympathy for anyone who did business with Anglo Irish Bank, which is now being wound down. They are too busy working out how they are going to make ends meet.
But spare a thought for the small time entrepreneurs, those who weren’t big enough to have their loans transferred to the National Asset Management Agency (NAMA) and who – bad luck would have it – chose to borrow from Anglo instead of Bank of Ireland or AIB, the two pillar banks who are earmarked to continue in business.
One of those borrowers, David, contacted me with his story. He has about a dozen commercial properties around Dublin, all of them bar one ‘donkey’ performing.
One is occupied by a state tenant, another a multinational in the IT sector and household name. You don’t get more blue chip than that. In all he borrowed about €5m from Anglo.
Anglo’s recovery unit is not really interested in his story.