Friday 23 June 2017

Store appoints an ex-Brown Thomas executive to key role

ARNOTTS, the department store now owned by Anglo Irish Bank and Ulster Bank, has appointed a former Brown Thomas executive as its chief operations officer.

Ray Hernan, who has also worked previously at Ryanair, will take up the post after spending time working at UK department store Selfridges. Mr Hernan was director of finance at Selfridges and Brown Thomas.

Originally from Galway, Mr Hernan qualified as a chartered accountant with KPMG in 1990.

Arnotts is trying to deal with a debt load of over €300m, built up when the company went on a property-buying spree.

The company is trying to revive its trading performance and if that happens the banks are likely to sell off the company to a trade buyer.

Arnotts chairman Mark Schwartz said: "Ray has extensive experience of the retail sector and an in-depth knowledge of the Irish retail market. We look forward to having him on board for the journey ahead as we work together with employees and our vendor and concession partners to grow and develop Arnotts."

Irish Independent

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