Tuesday, September 18 10:12:08
US-based private equity group, Gordon Brothers, has bought Dublin's iconic department store, Clery's, for an undisclosed sum in a move that will save up to 350 jobs.
The 147 staff at the store will be retained under existing terms and conditions as a result of the acquisition by Gordon Brothers.
However, its sister shop, Michael Guineys on Dublin's Talbot Street, and the Clerys home furnishing stores in Leopardstown and Naas have been put into liquidation with the loss of 29 jobs.
But further 200 people, who work for concessionaires, will also keep their jobs.
After struggling over recent years, the new owners say the deal will allow the group to make a fresh start.