Dunnes Stores has put its six-storey Sauchiehall Street store in Glasgow on the market, four months after closing its doors. The retailer also closed a long-standing store in Clydebank’s Clyde Shopping Centre at the same time. It still has operations in the Forge Shopping Centre in Glasgow’s East End and the Antonine mall in Cumbernauld. CBRE is selling the 4,300 sq metre art deco store, one of the best pitches on Glasgow’s prime shopping street.
Future looks bright for eLight
The Irish lighting specialist eLight has raised €3.5m from investors.
The company recently completed its second fundraising through the employment and investment incentive scheme, taking its total funding to more than €6m.
Based in Dublin, eLight installs and manages energy-efficient LED lighting for businesses, with clients including Bank of Ireland and Guinness.
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The company is run by Ian McKenna, a 2017 finalist in the EY Entrepreneur of the Year scheme.
Profits dry a bit at MJ Flood
Business services group MJ Flood expected profits in 2017 to be “marginally better” than the €5.3m reported after tax the previous year, according to accounts for 2016. Sales were expected to exceed the 2016 figure of €82.6m. Dividends of €395,000 were paid to the controlling directors, John and Michael Power, up from €300,000 in 2015.
141.6%
Irish households remain the fourth most indebted in Europe, with debt as a percentage of gross disposable income at 141.6% in 2017. Overall, household debt is down 30% on its 2008 peak of €204.6m — the biggest fall of any EU country since the crash.
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CPL Resources on a good gig
Recruiter CPL Resources finished the first half of its financial year with net cash of €12m, positioning the company for further organic growth and acquistions, said broker Davy. The company also returned €25m to shareholders through a tender offer. Temps accounted for 68% of its net fee income inthe period, a reflection of the growing “gig economy”, said Davy.
Funding boost for Bluestone
Bluestone Asset Management, a subprime auto lender, has received a €2.8m capital injection from its British parent, whose shareholders include Lloyds Bank and Australia’s Macquarie Bank. Bluestone has lent out more than €120m in Ireland since 2014.