Monday September 28, 2020

Decision time on Henry Street: what next for Arnotts?

The rival owners of Arnotts are locked in talks this weekend in an effort to resolve the long-term shareholding structure of the iconic department store in Dublin city centre.

22nd March, 2015
4
Noel Smyth and his backers could take over the Arnotts landbank, while Apollo would take control of the iconic store Picture: Feargal Ward

Apollo, the US investment giant that controls half of the store, is hoping to strike a deal with the other shareholder, Fitzwilliam Finance Partners, an investment vehicle controlled by the solicitor Noel Smyth.

The two sides held talks on Friday, and further meetings are likely. One potential solution under active consideration would involve Apollo taking control of the shop, with Smyth and his backers assuming ownership of the adjacent land bank in the heart of...

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