Funds dispute threatens well-known rendezvous area

Dublin Skyline

For decades, Dublin’s courting couples have rendezvoused under the clock at Clerys department store on O’Connell Street, the city’s main thoroughfare.

Bloomberg News reports that last week, though, the symbol of Dublin’s romance was transformed into an emblem of Ireland’s lingering economic insecurity.

On Friday, a pair of investment funds closed the landmark store, which sits opposite a statue of a fiery union leader who led the fight for Irish workers’ rights.

Within hours of Cheyne Capital Management Ltd. and Irish property firm D2 Private taking control of the loss-making store, more than 400 staff were locked out, rousing anger in a country that has tended to welcome overseas investors. While buyers from Donald Trump to John Malone are snapping up cheap hotels, castles, golf courses and pubs, they often keep the businesses running and have rarely fired entire workforces.

To access the complete Bloomberg News article hit the link below:

Hedge Fund Spat Threatens Rendezvous Spot for Dublin Lovers

Jefferies Revenue Rises as Equities Gains Counter Bond Slump

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts