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Thu 07 Jul 2010Shoppers and staff shocked as banks move in on Arnotts
WHILE BUSINESS was brisk in Arnotts yesterday, staff and customers expressed concern over the future of one of Ireland’s oldest department stores after Anglo Irish Bank and Ulster Bank moved in to take control of it.
The takeover plan, dependent on approval by the EU competition commissioner, has come about because of the store’s inability to service borrowings of more than €250 million.
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