Tuesday 16 January 2018

Quinn glad to see Irish buyers for his ex-chain

Aideen Sheehan

Aideen Sheehan

RETAIL therapy on TV has been his latest high-profile venture, but Superquinn founder Feargal Quinn confined himself to one brief comment yesterday on the fortunes of the supermarket chain he created.

Mr Quinn told the Seanad he was glad to see Superquinn placed in the hands of another Irish family company, Musgrave.

"I am very pleased to see this and I am confident that the jobs of the 2,800 people who work there appear to have been secured," he said.

Mr Quinn established the Superquinn chain more than 50 years ago, building his empire on a high-quality service ethic.

Often seen stacking shelves himself, the Howth man's success led to his appointment to the Seanad in 1992.

But by 2005 with a 19-store chain commanding more than 8pc of the market, Mr Quinn and his family decided to cash in, selling Superquinn lock, stock and barrel for €450m to Select Retail Holdings, a property consortium. But the new owners were saddled by a debt mountain which in the end proved impossible to surmount.

Irish Independent

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