Clerys owners prepare for sale

Talks with trade buyer under way

There is more interest in the listed Clerys building than the retail side of the usiness Picture: Feargal Ward

The US-based owner of Clerys is gearing up to sell the iconic Dublin department store, appointing corporate advisers to conduct a sales process.

Gordon Brothers has retained IBI Corporate Finance to manage the process, and talks with one trade buyer are in progress.

A number of potential bidders have been sounded out, including retail recovery expert Hilco, which was approached directly by Gordon Brothers.

However Hilco’s principal, Paul McGowan, said that although the ...