A round-up of today's other stories in brief...

ACCBank files petition to wind up Radora

ACCBank has filed a petition to wind up Radora Developments, the company behind one of property developer Bernard McNamara’s flagship projects.

Radora was behind a major mixed-use development on Merrion Road, Dublin, known as the Elmpark Green Urban Quarter. The petition is due to be heard in the High Court on November 22nd.

Mr McNamara recently settled an action with two former business partners who had lodged a judgment against him for €2.1 million

It was reported yesterday that Mr McNamara was locked in negotiations with the National Asset Management Agency to prevent the State’s bad bank appointing receivers to companies associated with his property investments.

Iceland to open 105 stores and create 2,175 jobs

The company that owns the Iceland stores franchise in Ireland is to create 2,175 jobs with the roll out of 105 stores, writes Charlie Taylor.

The AIM Group is to open 40 Iceland outlets over the next four years. It also intends to open 15 Home Savers stores, and 50 €2 Stores across the country.

The total level of capital investment by the group will be more than €25 million.

The expansion announcement was made by AIM Group chief executive Tom Keogh at the opening of a new Iceland store in the Ilac Centre in Dublin yesterday.

The company also operates another three Iceland stores in Dublin in Finglas, Ballyfermot and on the Navan road.

“Our combined retail offering, of value for money, Iceland foods along with our own brand Home Savers stores we believe will capture the Irish public’s attention and are sure-fire winners.

We have a well funded aggressive roll-out programme of retail stores for the next four years,” said Mr Keogh.

The AIM Group was founded by Naeem Maniar, an Irish-based Indian businessman in 1990. The company employs more than 52 staff at its headquarters in the Robinhood Industrial Estate in Clondalkin, Dublin.

Fine of €23,500 for endowment seller

The Central Bank has fined the Endowment Policy Purchasing Company €23,500 over lapses in controls and accounting systems, including the failure to supply annual statements to clients.
The company said the breaches did not lead to any financial loss for clients.

The regulator said the company undertook immediate remedial steps once the problems came to light during an inspection.

It said the penalties imposed "reflect the co-operation of the firm during the course of the investigation".

The company, based in Booterstown, Dublin, buys and sells endowment policies.

ABC Nutrition picks up enterprise award

A sports nutrition manufacturer from Co Clare has won the overall prize at this year's National Enterprise Awards. ABC Nutrition was one of eight finalists in the awards run by the county and city enterprise boards.
The business start-up award went to Sligo-based Verus Precision with Easydry, from Louth, picking up the export honours.

Recruiter acquires PCH home care

Recruitment firm CPL Resources has acquired a homecare business, PCH, for an undisclosed sum.
The move marks a departure for the firm, which has previously concentrated on the recruitment sector. PCH, which was established in 1998, provides care to people in their own homes, allowing them to continue to live independently.