OCS Investment Holdings (A Gordon Brothers company) acquires Clery & Co (1941) plc
All of the 147 Clerys employees based at the O’Connell Street department store will transfer under Transfer of Undertakings Law to employment with OCS Operations Limited on existing terms and conditions of employment.
All customer deposits, vouchers and store cards in place prior to the Joint Receivers being appointed will be honoured in full by the new owners.
The new owners are committed to working with the store’s concessionaire partners and suppliers and will liaise directly with them over the coming days.
“The iconic Clerys department store has, for generations of Irish people, been an important feature of Dublin retail life and Gordon Brothers is committed to re-vitalising its fortunes,” said Frank Morton, CEO, Gordon Brothers Europe.“Today’s announcement will facilitate Clerys to make a fresh start. We are acutely conscious of and respectful towards its heritage and tradition. Clerys on O’Connell Street offers the current generation of shoppers a contemporary shopping experience featuring an impressive range of brands and products. Clerys and the sector in general have faced significant challenges in recent years, and changes will be required to bring the store onto a secure and sustainable footing. We will invest in the store and look forward to working with the management, staff, concessionaires and suppliers to review and improve operations, to significantly enhance the offering to customers and build on the many excellent features of the store.”