Advertisement

Developer seeking to wind up Dunnes Stores

The developer behind the Ferrybank Shopping Centre in Waterford City is seeking to wind up retail...
Newstalk
Newstalk

11.02 24 Nov 2012


Share this article


Developer seeking to wind up D...

Developer seeking to wind up Dunnes Stores

Newstalk
Newstalk

11.02 24 Nov 2012


Share this article


The developer behind the Ferrybank Shopping Centre in Waterford City is seeking to wind up retail giant Dunnes Stores.

The case is listed before the Commerical Court on Monday.

It is related to Dunnes Stores failure to pay some  21.6 million due over an unpaid debt for building works.

Advertisement

In March this year the High Court awarded Holtglen Limited just over  20 million from Dunnes Stores for breach of contract over the Ferrybank Shopping Centre.

Insolvent

The contract for Dunnes to be the anchor tenant of the centre was signed in 2007, however by the time the centre was completed in 2009 the market had collapsed and Dunnes were no longer interested in moving in.

Holtgen later became insolvent and its Bank of Ireland loans were transferred to a NAMA company.

It is understood NAMA wrote to Dunnes on October 30 warning that, unless it paid the €20.4m judgment plus interest within seven days, Holtglen would proceed to publish a petition to wind up Dunnes.

Holtglen claims there is no justification for Dunnes not paying the sum due.


Share this article


Read more about

Business

Most Popular

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share


Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

Newstalk Breakfast

Newstalk Breakfast

07:00-09:00

Share

Up next

THE PAT KENNY SHOW

THE PAT KENNY SHOW

09:00-12:00

Share

LUNCHTIME LIVE

LUNCHTIME LIVE

12:00-14:00

Share

MONCRIEFF

MONCRIEFF

14:00-16:00

Share

THE HARD SHOULDER

THE HARD SHOULDER

16:00-19:00

Share

OFF THE BALL

OFF THE BALL

19:00-22:00

Share

THE TOM DUNNE SHOW

THE TOM DUNNE SHOW

22:00-00:00

Share

BEST OF NEWSTALK

BEST OF NEWSTALK

00:00-06:00

Share

BREAKFAST BRIEFING

BREAKFAST BRIEFING

06:00-06:30

Share

BREAKFAST BUSINESS

BREAKFAST BUSINESS

06:30-07:00

Share

NEWSTALK BREAKFAST

NEWSTALK BREAKFAST

07:00-09:00

Share

00:00:00 / 00:00:00

Share on