Top stories in the papers this week 20 – 26 November 2012

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Dunnes Stores faces winding-up petition over €21.6m judgment; C&C buys drinks supplier in €58m deal; 80% who buy imported food believe it is made here



26 November 2012

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1. Dunnes Stores faces winding-up petition over €21.6m judgment

Dunnes Stores faces a petition for winding up over its failure to honour a €21.6 million court judgment. The Irish Times reports that in 2009, Holtglen Ltd completed building The Ferrybank shopping centre in Kilkenny in which Dunnes had agreed to be the anchor tenant. However when Holtglen later became insolvent and its debts were transferred to Nama, Dunnes failed to pay the €20.4 million judgment plus interest.

2. C&C buys drinks supplier in €58m deal

Drinks group C&C has agreed to buy Irish drinks supplier and distributor, Gleeson Group, in a deal worth €58 million in total, The Irish Times reports. Gleeson distributes packaged long alcohol drinks, and manufactures Tipperary mineral water and Finches soft drinks as well as own-label brands. C&C chief executive Stephen Glancey said the acquisition would add an extensive distribution network and strengthen its existing Irish business.

3. 80% who buy imported food believe it is made here

Irish consumers are spending millions on imported foodstuffs that they wrongly believe are Irish, the marketing body Love Irish Food (LIF) has said. The Irish Independent reports that according to LIF we import at least 45% or €1.5bn worth of branded food products a year, but could easily substitute €300m of this with Irish products if consumers bought just two more homegrown items a week.

4. Hypermarket decision looms as deadline met

A decision on the proposed €15 million Tesco ‘hypermarket’ in Galway is due from city planners on 19 December, The Galway City Tribune reports. Almost 80 submissions were received by the Council on the controversial plan to build the new 7,000 sq m shopping centre off the Seamus Quirke Road. Many objections were lodged against the application, including from RGDATA, which claimed the store would "hoover up businesses within a 20km radius.

5. €780k price tag on Bluebell Centra

A Centra shop in Bluebell, Dublin 12, is being offered for sale with an asking price in the region of €780,000. The Irish Independent reports this represents a 68% discount to the €2.4m which it is believed that the premises sold for 2008. Agents Lisney points out that the guide price reflects a net initial yield of 10.09% after usual costs of 4.46%. The contracted rent under the lease is €105,000 a year. However, rental payments equivalent to €54,000 per year are currently being paid.


Charity calls for sugar tax in Irish Republic (BBC News)

O2 teams up with retailers for phone discount programme (Irish Times)

Festive online spend to hit €420m (Irish Examiner)

Walmart suppliers confronted by union as stores hit by employee walkouts (Guardian, UK)
-Nationwide employee protests ahead of Black Friday continue as international union asks ship operators to raise concerns

Tesco dips despite investor trip while FTSE edges higher despite continuing eurozone worries (Guardian, UK)
-Supermarket group shows off new automated warehouse and store designs, but response is mixed

Black Friday starts early as Americans spend (Irish Independent)

US stocks soar on Black Friday (Irish Examiner)

Planners order soup kitchen to cease (Galway News)

€1m funding boost for Falcarragh firm Kelsius (Donegal Daily) 

Irish consumers spend circa €1.5bn on imported food brands – report (Business and Leadership)

Foodies cook up victory at awards (Irish Examiner)

Impairment charges and costs push Garvey group into the red (Irish Times)

Why are Irish towns ‘dying on their feet’? (Irish Times)

Supermarkets call for longer trading hours on Sunday before Christmas (Guardian, UK)
-Morrisons and Asda say six-hour limit should be stretched on 23 December, the busiest food shopping day of the year



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