Gordon Brothers snaps up Clerys

The Boston-based investment firm Gordon Brothers is the new owner of iconic Dublin department store, Clerys, which went into receivership yesterday.

The future of the debt-laden privately-owned business had been speculated upon for months and, yesterday, Paul McCann and Michael McAteer of Grant Thornton were appointed joint receivers to the three companies which jointly own the store, at the invitation of their directors.

Those companies are Clery & Co (1941) plc, Denis Guiney Ltd and Yterrbium Ltd; which jointly own and operate the main Clerys department store.