Boundary Capital, the Irish listed investment group led by financier Niall McFadden, has said its shareholders are unlikely to receive any value from the company's stake in Dublin retailer Arnotts.
In a statement to the stock exchange, it said Art Holdings, the company which owns Arnotts, was in talks with its bankers about a restructuring of its debt.
“The level of debt owed by Arnotts means that there is unlikely to be any material value for Boundary Capital's investment in Arnotts,” it said.
Boundary currently holds a 28 per cent stake in Arnotts.