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Dublin: 8 °C Tuesday 10 December, 2019
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The company that ran Clerys has been officially wound up

The High Court officially ordered that OCS Operations Ltd be wound up today with no opposition to the application.

Image: Sasko Lazarov/Rollingnews.ie

THE COMPANY THAT formerly operated Clerys department store before its recent liquidation has been officially wound up.

The High Court today appointed joint liquidators for OCS Operations Limited and called for the company to be wound up after there were no objections to the application.

RTE reports that the court was told the newly appointed liquidators will be investigating the conduct of the former directors of OCS in the year prior to Clerys liquidation.

The same directors have also been ordered to provide the liquidators with a statement of affairs.

“There’s no opposition to the petition so the liquidation is now going ahead,” a spokesperson for SIPTU, who are representing the Clerys workers, told TheJournal.ie.

KPMG will also be putting in place a committee of creditors as we understand it.

A landmark O’Connell Street department store, Clerys was liquidated suddenly last month with the loss of 400 jobs, following the sale of the company to the Natrium consortium.

clerys

That was achieved through the transfer of OCS Holdings, which was Clerys parent company, and in turn owned by Gordon Brother Group.

However the prime real estate site on O’Connell Street and the store’s day-to-day operations were tied up in two separate forms – OCS Operations, which was wound up today, and OCS Properties.

OCS Operations recorded a loss of over €2 million for the 12 months prior to Clerys liquidation.

Read: Gerry Adams says there were “serious conflicts of interest” in Clerys sale

Read: These are the people behind the deal that means time’s up for Clerys

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