Staff at Arnotts are being told their jobs are safe as the iconic department store battles with debts of €260M…
Ango Irish Bank and Ulster Bank take control of the store from this morning, with promises all 950 jobs at the company aren’t under threat.
The banks won’t have a say in the day-to-day running of the business, but they will have on plans for its future.
Because Anglo’s state-owned, the EU has to approve the deal, with any objections to be lodged by the 9th of August.
Retail consultant Eddie Shanahan used to work at Arnotts – he says it’s a sad development.
