Tomás Ó Flatharta

There has been speculation “on the street” for over a month about the imminent appointment of receivers to the Clery’’s department store on O’Connell Street and this evening RTE reports that a receiver has indeed been appointed to the company, Guiney and Company Limited, which owns the iconic department store on O’Connell Street.

RTE reports the receivers saying that the store will remain open and it “will be business as usual” but the industry has been that a receivership will allow Clery’s to give notice to the various concessions which operate in the store.

Clery’s has had a long and chequered history, including a period in which it was owned by notorious Dublin businessman William Martin Murphy. It has been in the Guiney family since 1941, survived recessions in the 1950s and 1980s but overplayed its hand in the 2000s when it got into the property development game.

It is…