Court told of Clerys ‘directors’ pack’

A ‘directors’pack’ containing financial details about the iconic Clerys department store and its workforce was one of the reasons why inspectors sought documents at the offices of a Dublin-based property company, the High Court has heard.

The inspectors, who are conducting an investigation into the collective redundancy of the store’s 460 workers in June 2015, claim the pack was issued by D2 Private before the group of companies that owned and operated Clerys was sold to a joint venture called Natrium by its previous owners the US Gordon Brothers group.

Natrium is a joint venture made up of Cheyne Capital Management in the UK, and a company of Deirdre Foley who is the owner of property firm D2 Private Ltd.