Bidding war for Clery’s likely to hot up

A MULTI-MILLION euro bidding war to take over Dublin store Clery & Company is expected in the coming months.

The funeral takes place today of Mary Guiney, the 103-year-old matriarch who guided the store’s fortunes over the last 40 years.

Limerick-born Mrs Guiney, who has controlled the business through a 52% trust holding in the company since her husband Denis’s death in 1967, has fought off all attempts to take over the company, including a failed management buyout. Industry sources suggest the company’s iconic flagship store in O’Connell Street is worth well over €50 million as a piece of real estate. However, the protected status of the building would limit the potential uses of the premises.