We don't want to buy Arnotts - BT

Claire Murphy

BROWN Thomas is not interested in buying Arnotts, according to a leading figure at the Grafton Street store.

BT deputy chairman Paul Kelly revealed it has "no intention" of purchasing the northside shopping complex, which is "owned by a bank that's bust".

Arnotts was taken over earlier this year by its lenders, the nationalised Anglo Irish Bank and Ulster Bank.

"Brown Thomas has no intention of buying Arnotts. I don't know how many times we have to say that to people. We've just bought a department store in Holland," Mr Kelly told the Irish Times.

Brown Thomas is debt free and had been seen as a likely suitor for Arnotts.