“The gift that keeps on giving” reported on the closure of Clery’s department store in Dublin in June 2015 with the loss of 130 jobs and about 300 operators of franchises. The background is as follows. Gordon Brothers had bought the store in 2012 when it had bank debt of €20 million. They got a write-down on the debt to €12 million. The company was also…

The November 2015 issue of Socialist Voice reported on the closure of Clery’s department store in Dublin in June 2015 with the loss of 130 jobs and about 300 operators of franchises. The background is as follows. Gordon Brothers had bought the store in 2012, when it had bank debt […]