Sunday, 1 February 2009

Superquinn denies plans for former AIB site in Dublin 4

Struggling retailer Superquinn has denied it is planning to open its first ever store in Dublin 4.

The retailer, which recently announced it was laying off 400 staff and closing its Dundalk store, owns a stake in a company called Encap Properties, according to Companies Office documents, which is planning to redevelop the former AIB unit at Donnybrook House on Donnybrook Road into a shop, gym, restaurant and offices. However, a spokesman for the retailer denied it had a financial interest in the project.

Companies Office documents show that Encap is mainly owned by DavidCourtney and Padraig Breen, both of whom are directors of a number of Superquinn companies.

Courtney was one of the original investors in Select Retail Holdings, which bought Superquinn from the Quinn family.

A small stake in Encap is owned by a company called Melnar, which in turn is owned by Superquinn, the documents show, but Superquinn said it has no direct interest.

Donnybrook House was sold by AIB in 2006 as part of its sale and leaseback programme.

Encap Properties has applied to change the existing bank hall into retail use.

Sunday Tribune

No comments: