Jobs saved in Cork as Maher's Sports taken over by Elverys

Leading Irish sports retailer Elverys has acquired the landmark Maher’s Sports business in the heart of Cork city.

The deal on Mahers’ Oliver Plunkett St outlet is subject to Competition Authority approval, with a decision expected within a matter of weeks.

Elverys head of marketing, Anne Marie Hanly, said neither party to the deal envisages any difficulties during that process, and it is hoped the transfer of undertakings will be completed soon and seamlessly.

She declined to discuss the value of the deal which it is understood has brought it over the threshold for Competition Authority examination.

But she confirmed the company plans to retain Mahers’ sales staff and management team.

However, five staff working in the administration, finance and HR sections of Mahers — who between them have over 70 years experience in the business — are facing redundancy.

The deal relates to Mahers Oliver Plunkett St outlet only and will not have any impact on the Mahers’ golf outlet on Cork’s Penrose Quay.

Ms Hanly also confirmed it will be business as usual at the Oliver Plunkett St outlet pending the Competition Authority ruling.

“We hope to be trading on Oliver Plunkett St as an Elverys store before Christmas. We also hope to refurbish the store in the new year and create more jobs,” she said.

It is expected the new store will require up to 30 staff at peak trading times, and arrangements have been put in place to ensure all vouchers will be honoured by the new owners.

Mahers Sports was founded in 1971 in a basement in King’s Terrace next to St Patrick’s church in Cork city.

Tommy Maher, who had been on the professional golf circuit, was instrumental in developing a golf outlet first, before the company expanded to establish its general sports outlet on Oliver Plunkett St. The golf shop now trades at Penrose Quay.

Over the last four decades, under the stewardship of Tommy, his wife Yvonne, and his brother Dick, the company has become one of Munster’s largest sports retailers.

Its 21,000 sq ft unit between Oliver Plunkett St and Maylor St is one of the single largest sports retail units of its kind in the country.

Although the Maher brothers have officially retired, they still have a role in the business and were involved in the Elverys deal which had been ongoing for some time.

Founded in 1847, Elverys says it is Ireland’s oldest sports retailer. It began with two stores in Dublin and one outlet on Cork’s St Patrick’s St soon afterwards.

It was taken over in 1998 by the Mayo company Staunton Sports and placed in examinership last year.

But the company exited examinership in May 2014 after the High Court approved a survival package which helped save up to 700 jobs.

Having opened just one store between 2008 and 2014, Elverys has opened three stores in the last 12 months alone, with further expansion planned in Munster.