Dragon is back in the black

After a tumultuous period, Blacktie has returned to profit - with chief executive Niall O’Farrell hoping this trend will continue through franchise deals, writes Gavin Daly

15th August, 2009

Blacktie, the formal wear chain, is back in profit after a restructuring that halved its workforce, according to company founder, Niall O’Farrell.

The Dragon’s Den star, who has one of his homes on the market for €14 million, said he had closed two stores and franchised out his business in Galway. His remaining business of 16 stores has 67 staff, down from 130 before the restructuring.

O’Farrell had taken a step back from Blacktie...

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