Weekly Round Up, July 7, 2015
Published on Jul 7 2015 9:08 AM
CBRE’s Bi-Monthly Research Report has said that the retail landscape in Ireland ‘has continued to improve’ over the past few months, and the ‘recovery first experienced in Dublin is beginning to manifest itself outside of the capital’. It said that it expected to see ‘further upward movement in rent values’ over the coming months, ‘as retailer demand continues to improve’.
Subway of Ireland Ltd, a company primarily involved in the granting of operational leases to Subway franchisees, posted profit before tax of €45.2k last year, up from €34k the previous year. In the year to 30 September 2014, Subway of Ireland had a turnover of €2.32 million, up from €2.1 million in 2013.
Just over 700 jobs have been saved through SME examinership in Ireland this year alone, reports the Hughes Blake SME Examinership Index. The lower-cost examinership option offered by the Circuit Court, rather than the High Court, also now represents the majority of examinerships in Ireland for the first time.
Dublin city councillors have voted to prevent the Clerys Department Store site from being used as either a hotel or offices, branding its new owners at Natrium Ltd as ‘vulture capitalists’. Natrium has recently released plans to develop a ‘mixed-use destinaton’, after the store’s recent closure resulting in around 400 job losses.
Aldi has been granted permission to open a new outlet in Youghal, making it the fourth large supermarket operating in the town centre. The Irish Examiner reported that site is 100m from a SuperValu outlet, while there is a Tesco and Lidl about 600m away in the town with a population of 6,597 and catchment area of around 10,000 people.
Marks & Spencer has released details of its Christmas food range for this year, introducing products such as sausages made with Brussels sprouts and Brusslesmole; a guacamole-style dip made with the Christmas staple vegetable. Also on the menu are Prosecco Crisps coated with pink fizz.
Gerald Maguire from Glasthule, the man behind the campaign to save the Pink Snack, has admitted to the Herald newspaper that he is “sick of them at this stage’, after eating so many. However, Maguire stands by that they are a good Irish product that should be supported.
Dawn Meats has been given approval from the EU Competition Commission to acqure a 49% stake in French meat processor Elvia, with an option to expand its stake to 70% by 2019, according to Agriland. Elivia currently employs 2,600 people and has an annual revenue of over €1 billion.
UK Liberal Democrat MP and pubs industry campaigner Greg Mulholland has clashed with Senator Feargal Quinn over supermarket alcohol prices. Muholland criticised low supermarket prices for taking business away from pubs, which Quinn retorted that pubs need to be able to adjust to the competition, calling the MP ‘anti-supermarket.”
The Guardian newspaper has revealed that Lidl, as well as its sister chain Kaufland, has benefited from nearly $900 million (€815 million) in public development money over the past decade, from the World Bank and European Bank for Reconstruction and Development. The banks say the funding is to allow Lidl create jobs and provide quality food to poorer customers.
The Teeling Whiskey Company has appointed Sheila Baird as general manager for its visitor centre at the recently opened Teeling Whiskey Distillery. Baird brings 20 year’s of experience in the hospitality sector to the role, having worked with several well-known hotels over the course of her career, including the Quinn Hotel Group, the Portmarnock Hotel & Golf Links and the Marine Hotel in Sutton.
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