Pretax loss at firm owned by Clerys building owner

Property investor Deidre Foley’s D2 Private reports loss of €775,000 for last year

D2 Private, a company owned by property investor Deirdre Foley, who led the Natrium consortium instrumental in the winding-up of Clerys department store, reported a pretax loss of €775,037 last year.

Net assets totalled €1,198 million as against €1,973 million in 2013. Debts declined from €859,653 to €449,438.

The company, which employs seven people, paid out €677,397 in payroll costs last year, newly-filed accounts show.

Directors’ remuneration halved from €175,000 to €81,167.


Amounts due to the company by former directors amounted to 296,729, which was carried over from the prior year.

The accounts show D2 Private is owed €5.79 million from Endlich Limited, a company established by Ms Foley and D2 Private's other director, Brendan Foley, in 2005.

Foley Asset Management, another company owned by D2's directors, is owed €400,000 but in prior years had provided services amounting to €2.5 million.

The accounts also reveal that an agreement by D2 to acquire a 50 per cent interest in 20 Harcourt Terrace from Ms Foley for €350,000 was completed last year.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist