|Packed House, the owner of Entertainment.ie, is in the running to acquire embattled digital publisher Maximum Media according to this week’s Business Post. Maximum, which owns the websites Joe.ie and Her.ie, is insolvent and KPMG has been appointed to find a buyer to try and clear more than €6m in debts. According to Aaron Rogan’s report, there are three strong bids for the company including one tabled by Maximum’s management team.
Hairdressers are set to reopen at the end of this month after the government accelerated the relaxation of Covid-19 restrictions. However, salon owners say they expect hair salons will suffer a drop in turnover due to the new hygiene measures. Sam Donnelly, owner of Sam’s Barbers chain and a member of the Hair and Beauty Industry Confederation, said: “Even if when we open and it’s like Christmas every week for a month, we’ll still be making less because of the changes”.
Restaurants are also reopening their doors on 29 June, however, not everyone is happy due to a new rule stipulating that diners can only stay at their table for 105 minutes. According to Gillian Nelis’ piece chefs at Ireland’s Michelin-starred restaurants have slammed the rule as “completely unworkable”. Nelis quotes Mickael Viljjanen, chef at The Greenhouse in Dublin and holder of two Michelin stars as saying: “Having a blanket rule for all pubs and restaurants is crazy. A high-end, modern restaurant is not the same as a pub.”
Two new “apart-hotels” due to open in Dublin early next year will create 100 jobs according to a story on page four. Locke, the hospitality firm, will open Zanzibar Locke on Lower Ormond Quay in January, while Beckett Locke, behind the 3Arena, will open in February.
On the same page, Ian Guider reports that the Central Bank has stepped up it’s monitoring of investment funds based in Ireland following an outflow of money as a result of turmoil in financial markets earlier this year. It comes as more than €72bn had poured out of Irish-based investment funds in March alone.
- Agri-tech fund Wheatsheaf Group has invested €5.8m in Irish grocery delivery app Buyme.ie
- Helikon Investments has built up a more €30m stake in Glenveagh Properties
- Paschal Donohue is expected to stay on as Minister for Finance in a FF/FG/Green government
- Permanent, the wireless broadband provider, is to wind down operations in the coming months