Top stories in the papers this week 25 February – 4 March 2011

Aldi looking to open new store in Terenure; 125 job losses expected at greetings card company; Total Produce profits up 18%

News

3 March 2011

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1. Aldi looking to open new store in Terenure

Aldi continues to pursue its ambitious expansion plans, and is set to open an anchor store in Sandyford, Dublin 18. The Sunday Business Post reports the German discounter has also applied for planning permission to build a store on the Terenure Road East, Dublin 6W. If granted, the foodstore and off-licence will measure 2,022 sq m in size with parking for 85 cars, most of which would be at basement level.

2. 125 job losses expected at greetings card company

A total of 125 jobs losses are expected at a greetings card chain after the High Court approved the appointment of a provisional liquidator to the firm. The Irish Times reports Birthdays (Ireland) Ltd has now closed all its 13 stores, because its British parent firm was no longer prepared to support the loss-making business, which saw Irish losses jump to €1m last year, and were expected to reach €1.5m by the end of July 2011.

3. Total Produce profits up 18%

Revenues at fruit and vegetable distributor Total Produce increased by 7% last year to almost €2.6 bn. The Irish Times reports pre-tax profits were up 18.4% to €33.6m for the year. Total Produce chairman Carl McCann said this reflected the “strength and broad base of the group’s operations against a background of tougher economic conditions in certain locations.”

4. Council bid to lure shops back into Limerick city

Grants towards fitting out vacant shops in Limerick city centre are being offered in a bid to attract retailers into the area which has suffered continuing shop closures. The Irish Examiner reports the pilot Retail Incentive Scheme for vacant properties has been drawn up by the city council and will target key shopping streets. Priority will be given to "higher order" retail outlets such as fashion and lifestyle stores.

5. Warning on rent review proposals

CBRE has warned that the incoming Government’s proposals to retrospectively review rental agreements, could “impact negatively on taxpayers, pensioners and NAMA.” The commercial property group said in the Irish Examiner, that all individual stakeholders needed to “work together to come up with sensible solutions," and warned that the uncertainty over rent reviews is creating weakened overseas appetite for Irish real estate.