Religious retailer Veritas to close as business prospects unlikely to improve

Retailer employs 80 people across seven outlets, its HQ and distribution warehouse

Veritas was founded in 1899 by the Catholic Truth Society of Ireland as a means to publish and distribute religious materials.

Religious publisher and retailer Veritas has announced it intends to wind down the business following a review that determined it could not mitigate the challenges it faces or improve its commercial prospects.

It is headquartered on Abbey Street in Dublin and employs more than 80 people across publishing, education and its seven retail outlets.

In a statement, the company said it had experienced a “significant and sustained business downturn” in recent years, primarily as a result of “ever-changing market, societal dynamics, and evolving shopper habits”.

“The cumulative effect of significantly reduced trading income and higher costs mean that the business will not be able to generate sufficient revenues to continue operating into the future,” the company said.

The company expects the wind-down will be done in a controlled and orderly manner.

Veritas chairperson Chris Queenan said it was a “highly unfortunate situation”, adding that they are “acutely aware” of the impact it will have on employees, customers, and communities.

“We are committed to an orderly wind-down process where our focus will be on supporting our colleagues during this challenging time,” he said.

It is expected the seven retail outlets will close by the end of this year, while the online section of the business will continue to operate as normal in the meantime.

The company said it was in the process of determining options for the continued publication of certain high demand titles.

Veritas was founded in 1899 by the Catholic Truth Society of Ireland as a means to publish and distribute religious materials.