Saturday August 8, 2020

Comment: Questions for Bank of Ireland on Clerys deal

Dublin store's banker was repaid its debts while state picked up lay-offs tab, writes Tom Lyons

13th October, 2016
Former Clerys workers to receive 'goodwill payment'. Pic:

Clerys was always going to close, once it was sold. No business can make losses year after year like it was. Something had to give.

The manner in which the O’Connell Street store was closed continues to raise questions, however.

It was this restructuring which allowed the connection between Clerys' valuable property and its loyal workers be broken.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

Many of us have achieved a new life balance that might just be the real ‘new normal’

Sharyn McAndrew | 2 months ago

Property firms such as QRE are dealing with the coronavirus lockdown by trying to maintain some normality in their day-to-day business

Conor Whelan | 2 months ago

Hardline opposition to EU solidarity in funding the cost of Covid-19 is driven by German allergy to ‘imprudent’ spending, and by Dutch politicians fearing the transfer of funds to southern countries would provoke a far-right backlash

Barry J Whyte | 3 months ago