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The Dublin Airport Authority (DAA) has signed a licence with Irish bookseller Eason & Son for the operation of the seven outlets at Dublin and Cork airports that were previously part of the Hughes & Hughes chain.
As part of the agreement, Eason & Son, which is one of Ireland’s leading book and stationery retailers, is likely to retain about 120 former Hughes & Hughes employees. Eason & Son will add the seven airport outlets to its existing portfolio of 54 Irish stores.
Hughes & Hughes was placed in receivership late last week, but the stores at Dublin and Cork airports continued to trade under an agreement between the DAA and the receiver, David Carson of Deloitte. The DAA worked closely with the receiver in recent days to keep the profitable airport outlets open.
The licence with Eason & Son covers five stores at Dublin Airport and two outlets at Cork Airport. Under the agreement, Eason will pay the DAA a percentage of turnover rather than a fixed annual rent. This system, which also previously applied to Hughes & Hughes, includes a minimum annual payment and means that the DAA and the retailer effectively share the trading risk.
DAA Commercial Director Jack MacGowan said the company was pleased to have signed an agreement with Eason & Son to operate the former Hughes & Hughes airport outlets. "The DAA was deeply saddened to see a receiver appointed to Hughes & Hughes, as we had worked with them for many years at Dublin and Cork airports," Mr MacGowan said.
"The Hughes & Hughes’ airport business is and was profitable and the agreement with Eason & Son will secure 120 jobs and ensure continuity of service for our customers at Dublin and Cork airports," Mr MacGowan added.
Hughes & Hughes’ contract with the DAA permitted the airport operator to terminate the licence in the event of the bookseller going into receivership. After Hughes & Hughes entered receivership last week, the DAA went to the market and received bids from a number of other firms for the seven airport shops. An agreement was signed with Eason & Son yesterday evening.
For further information contact:
Paul O’Kane
Director Public Affairs
DAA
353 1 8141897, 353 86 609 0221
Ends
March 4, 2010
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