herald

Sunday 22 April 2018

Clerys ready to re-open doors

ICONIC Dublin department store Clerys will officially re-open tomorrow.

The store has been closed for the past four months after it was damaged by flooding.

Musician Bressie, Arts Minister Jimmy Deenihan and Clerys MD Dominic Prendergast have been lined up for the grand re-opening.

Clerys was one of the world's first purpose-built department stores when it opened in 1853. It was closely modelled on the landmark Selfridges in London's Oxford Street.

Sales approached €30m a year during the boom. However, the cliff-drop of consumer spending and the need to restructure debt saw Clerys forced into receivership in September last year.

Receiver Grant Thornton was able to do a deal to sell the store to Boston fund Gordon Brothers, which installed a new management team headed by Mr Prendergast, a serial retail turnaround specialist.

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