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Mel Sutcliffe and Rory O’Sullivan’s Quanta Capital recently acquired the freehold site when it bought debts attached to it from Deutsche bank.Quanta has said it will be supportive of the examinership.He expects to have profit before tax of €3m by 2022. It sold Gourmet Burger Kitchen last year, and, with the help of Bluebay, he restructured his loans as they came out of IBRC and is focused on paying them down now. The purchase of two wind farms for €300m is the first step towards what will very likely be a much bigger vehicle.Davys are advising and ISIF and AIB are said to be backing the acquisition of the two wind farms. The owner of the operating company of Avon Ri, the lakeshore resort and adventure centre in Wicklow, has petitioned the High Court for examinership.Chief executive, David Mc Redmond will contact the country’s 1,000 independent postmasters this week, warning them that the financial crisis at An Post requires immediate action.The Sunday Independent writes that the number of Post Offices targeted for closure in its restructuring plan is now reported to be a multiple of the 80 reported last week.
The Sunday Times reports that An Post lost €45m from operating the national postal service last year, a 40% increase on the losses of €32.3m reported in 2015.Dental Care Ireland has been quietly acquiring Dental practices around Ireland.It has acquired 11 practices with turnover of €10m.They are running a competition for students with a prize of €25k in order to secure the best entrants.“Dublin-based tech start-up Rebrandly is raising €5m for a global expansion.” Michael Murray and Ian Guider have a special focus on the fragility of Permanent TSB given its legacy exposure to distressed Mortgages.